Northwestern Mutual Investment Management Company LLC lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 80.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the technology infrastructure company’s stock after selling 28,310 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Akamai Technologies were worth $375,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. First Trust Advisors LP grew its stake in Akamai Technologies by 41.8% in the 2nd quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after buying an additional 1,428,886 shares in the last quarter. AQR Capital Management LLC grew its stake in Akamai Technologies by 49.0% in the 1st quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock worth $151,931,000 after buying an additional 836,384 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Akamai Technologies by 29.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares in the last quarter. Clearbridge Investments LLC grew its stake in Akamai Technologies by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares in the last quarter. Finally, FIL Ltd grew its stake in Akamai Technologies by 107.0% in the 1st quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock worth $67,883,000 after buying an additional 587,754 shares in the last quarter. 84.45% of the stock is owned by institutional investors.

A number of equities analysts have commented on AKAM shares. Deutsche Bank AG reissued a “buy” rating and issued a $70.00 price target (down previously from $73.00) on shares of Akamai Technologies in a research note on Monday, July 17th. Piper Jaffray Companies reissued a “buy” rating and issued a $57.00 price target on shares of Akamai Technologies in a research note on Wednesday, July 26th. B. Riley reissued a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research note on Sunday, June 11th. BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Finally, Vetr cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price target for the company. in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $61.50.

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Shares of Akamai Technologies, Inc. (AKAM) opened at 47.34 on Friday. The company’s 50-day moving average is $46.50 and its 200-day moving average is $52.73. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 27.04 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same period in the previous year, the firm earned $0.64 earnings per share. Akamai Technologies’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that Akamai Technologies, Inc. will post $2.52 EPS for the current year.

In other Akamai Technologies news, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the transaction, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO F Thomson Leighton bought 21,554 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 46,371 shares of company stock valued at $2,245,016. Corporate insiders own 3.20% of the company’s stock.

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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