LGT Capital Partners LTD. Sells 72,814 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Capital Partners LTD. lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 256,600 shares of the technology infrastructure company’s stock after selling 72,814 shares during the quarter. LGT Capital Partners LTD.’s holdings in Akamai Technologies were worth $24,544,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after acquiring an additional 88,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock worth $88,213,000 after acquiring an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock worth $87,188,000 after acquiring an additional 74,373 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. Susquehanna lowered their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Raymond James lowered their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Insider Transactions at Akamai Technologies

In related news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,896 shares of company stock valued at $2,872,496 in the last 90 days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 5.7 %

Shares of Akamai Technologies stock opened at $87.52 on Friday. The firm’s 50 day moving average price is $93.06 and its 200-day moving average price is $96.64. 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, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36. The company has a market cap of $13.16 billion, a P/E ratio of 26.85, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal 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.