PNC Financial Services Group Inc. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,929 shares of the technology infrastructure company’s stock after selling 396 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Akamai Technologies were worth $1,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AKAM. Vanguard Group Inc. grew its position in Akamai Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock valued at $963,462,000 after acquiring an additional 476,166 shares during the period. Clearbridge Investments LLC raised its holdings in shares of 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 purchasing an additional 717,811 shares during the period. First Trust Advisors LP raised its holdings in shares of 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 purchasing an additional 1,428,886 shares during the period. Blue Harbour Group L.P. raised its holdings in shares of Akamai Technologies by 15.4% in the 1st quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after purchasing an additional 381,300 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of 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 purchasing an additional 836,384 shares during the period. Hedge funds and other institutional investors own 84.49% of the company’s stock.

A number of research analysts have weighed in on AKAM shares. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Robert W. Baird reissued a “hold” rating and issued a $52.00 price objective on shares of Akamai Technologies in a research report on Friday, September 1st. Credit Suisse Group initiated coverage on shares of Akamai Technologies in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $50.00 target price on the stock. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 target price on the stock. in a research note on Wednesday, September 13th. Finally, Instinet restated a “neutral” rating and set a $47.00 target price (down previously from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.25.

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Akamai Technologies, Inc. (AKAM) opened at 50.00 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 28.56 and a beta of 0.65. The stock has a 50 day moving average of $46.76 and a 200 day moving average of $51.32.

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

In other Akamai Technologies news, Director Frederic V. Salerno purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the transaction, the director now directly owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 21,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost 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 90 days, insiders have bought 46,371 shares of company stock worth $2,245,016. 3.20% of the stock is currently owned by company insiders.

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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