Commerce Bank Sells 2,443 Shares of Akamai Technologies, Inc. (AKAM)

Commerce Bank lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 36.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,254 shares of the technology infrastructure company’s stock after selling 2,443 shares during the quarter. Commerce Bank’s holdings in Akamai Technologies were worth $212,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Akamai Technologies by 32.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,358 shares of the technology infrastructure company’s stock valued at $267,000 after buying an additional 1,325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Akamai Technologies by 65.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,205 shares of the technology infrastructure company’s stock valued at $5,141,000 after buying an additional 40,689 shares during the period. High Pointe Capital Management LLC purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at about $396,000. Tobam purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at about $153,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Akamai Technologies by 13.0% in the 2nd quarter. Pacer Advisors Inc. now owns 5,866 shares of the technology infrastructure company’s stock valued at $292,000 after buying an additional 677 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

AKAM has been the subject of several recent analyst reports. Vetr upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 target price for the company in a research note on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $46.00 target price (down previously from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Instinet restated a “neutral” rating and set a $47.00 target price (down previously from $48.00) on shares of Akamai Technologies in a research note on Tuesday, September 5th. Cowen and Company restated a “hold” rating and set a $61.00 target price on shares of Akamai Technologies in a research note on Friday, July 21st. Finally, Deutsche Bank AG restated a “buy” rating and set a $70.00 target price (down previously from $73.00) on shares of Akamai Technologies in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $61.50.

In related news, CEO F Thomson Leighton purchased 19,817 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were acquired at an average price of $50.45 per share, with a total value of $999,767.65. Following the acquisition, the chief executive officer now owns 205,861 shares in the company, valued at approximately $10,385,687.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederic V. Salerno purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the acquisition, the director now owns 62,192 shares in the company, valued at approximately $2,912,451.36. The disclosure for this purchase can be found here. In the last three months, insiders purchased 66,768 shares of company stock worth $3,244,877. Company insiders own 3.20% of the company’s stock.

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Akamai Technologies, Inc. (AKAM) opened at 46.80 on Wednesday. The stock has a 50 day moving average price of $46.78 and a 200-day moving average price of $53.05. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 26.73 and a beta of 0.64. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Equities analysts forecast that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.

Akamai Technologies Company Profile

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.

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

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