Nuveen Asset Management LLC Raises Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Nuveen Asset Management LLC increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,750 shares of the technology infrastructure company's stock after purchasing an additional 27,551 shares during the period. Nuveen Asset Management LLC owned approximately 0.27% of Akamai Technologies worth $38,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AKAM. Itau Unibanco Holding S.A. boosted its position in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the 4th quarter worth approximately $49,000. Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth approximately $57,000. LRI Investments LLC boosted its holdings in shares of Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after buying an additional 520 shares during the last quarter. Finally, TCTC Holdings LLC grew its position in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares during the period. Institutional investors own 94.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. Morgan Stanley reduced their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their price objective on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. Finally, Oppenheimer started coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Akamai Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $103.26.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer now owns 10,809 shares of the company's stock, valued at approximately $918,981.18. The trade was a 26.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares of the company's stock, valued at $10,929,676.36. The trade was a 37.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 35,321 shares of company stock worth $2,986,916 in the last three months. Insiders own 2.00% of the company's stock.

Akamai Technologies Price Performance

AKAM stock traded down $1.24 during mid-day trading on Monday, hitting $75.84. The company had a trading volume of 1,946,737 shares, compared to its average volume of 2,010,635. The company has a 50-day moving average price of $77.90 and a 200 day moving average price of $87.53. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.74 and a beta of 0.82. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.