Akamai Technologies, Inc. (AKAM) Position Reduced by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 71.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,391 shares of the technology infrastructure company’s stock after selling 13,544 shares during the quarter. Brown Advisory Inc.’s holdings in Akamai Technologies were worth $263,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BB&T Securities LLC lifted its stake in Akamai Technologies by 5.4% during the 3rd quarter. BB&T Securities LLC now owns 150,212 shares of the technology infrastructure company’s stock valued at $7,318,000 after acquiring an additional 7,673 shares during the period. Tiedemann Wealth Management LLC lifted its stake in Akamai Technologies by 16.4% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 17,658 shares of the technology infrastructure company’s stock valued at $340,000 after acquiring an additional 2,485 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Akamai Technologies by 23.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock valued at $39,416,000 after acquiring an additional 151,399 shares during the period. WINTON GROUP Ltd bought a new position in Akamai Technologies during the 3rd quarter valued at about $367,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Akamai Technologies by 8.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,941 shares of the technology infrastructure company’s stock valued at $679,000 after acquiring an additional 1,098 shares during the period. 86.56% of the stock is currently owned by institutional investors.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $55.00, for a total transaction of $150,865.00. Following the sale, the insider now owns 37,010 shares in the company, valued at approximately $2,035,550. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rick M. Mcconnell sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $54.19, for a total transaction of $214,917.54. Following the sale, the insider now owns 39,753 shares in the company, valued at approximately $2,154,215.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,181 shares of company stock worth $1,614,560. 3.20% of the stock is owned by company insiders.

Several equities analysts have issued reports on AKAM shares. Wells Fargo & Company set a $57.00 target price on shares of Akamai Technologies and gave the company a “hold” rating in a research note on Tuesday, October 10th. Robert W. Baird restated a “hold” rating and set a $52.00 target price on shares of Akamai Technologies in a research note on Friday, September 1st. Credit Suisse Group started coverage on shares of Akamai Technologies in a research note on Tuesday, September 5th. They set a “neutral” rating and a $50.00 target price on the stock. DA Davidson set a $57.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.59.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $57.02 on Wednesday. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64. The company has a market cap of $9,565.53, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. equities analysts forecast that Akamai Technologies, Inc. will post 1.89 earnings per share for the current year.

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About Akamai Technologies

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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