Norris Perne & French LLP MI bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, according to its most recent filing with the SEC. The firm bought 135,536 shares of the technology infrastructure company’s stock, valued at approximately $6,752,000.

A number of other hedge funds also recently modified their holdings of AKAM. Cleararc Capital Inc. raised its stake in shares of Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock worth $254,000 after buying an additional 37 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of Akamai Technologies by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock worth $1,035,000 after buying an additional 75 shares in the last quarter. Trust Co raised its stake in shares of Akamai Technologies by 2.1% in the first quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock worth $266,000 after buying an additional 90 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Akamai Technologies by 2.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,622 shares of the technology infrastructure company’s stock worth $258,000 after buying an additional 99 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Akamai Technologies by 0.3% in the first quarter. Utah Retirement Systems now owns 31,496 shares of the technology infrastructure company’s stock worth $1,880,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.

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Several equities analysts have recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a research note on Wednesday, May 3rd. SunTrust Banks, Inc. downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $54.00 to $82.00 in a research note on Wednesday, May 3rd. Nomura assumed coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $50.00 price target for the company. Instinet assumed coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $47.62 price target for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 price target on shares of Akamai Technologies in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Akamai Technologies currently has an average rating of “Hold” and a consensus target price of $62.76.

In related news, CEO F Thomson Leighton acquired 20,397 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average cost of $49.02 per share, for a total transaction of $999,860.94. Following the acquisition, the chief executive officer now owns 247,454 shares of the company’s stock, valued at $12,130,195.08. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was bought at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the acquisition, the director now directly owns 62,192 shares in the company, valued at approximately $2,912,451.36. The disclosure for this purchase can be found here. Insiders acquired a total of 66,410 shares of company stock valued at $3,233,594 over the last 90 days. Company insiders own 3.20% of the company’s stock.

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.

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

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