Tredje AP fonden Buys 144,823 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tredje AP fonden grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 580.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,777 shares of the technology infrastructure company’s stock after buying an additional 144,823 shares during the quarter. Tredje AP fonden owned 0.11% of Akamai Technologies worth $16,239,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $617,000. Avantax Advisory Services Inc. lifted its stake in Akamai Technologies by 19.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 23,352 shares of the technology infrastructure company’s stock worth $2,234,000 after acquiring an additional 3,763 shares during the period. Truvestments Capital LLC boosted its holdings in Akamai Technologies by 6.4% in the fourth quarter. Truvestments Capital LLC now owns 2,935 shares of the technology infrastructure company’s stock valued at $281,000 after acquiring an additional 176 shares in the last quarter. Simplicity Wealth LLC raised its holdings in Akamai Technologies by 6.1% in the 4th quarter. Simplicity Wealth LLC now owns 11,292 shares of the technology infrastructure company’s stock worth $1,080,000 after purchasing an additional 646 shares in the last quarter. Finally, Pettee Investors Inc. bought a new position in Akamai Technologies in the 4th quarter worth $543,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 1.2 %

AKAM stock opened at $79.66 on Thursday. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.79. The business has a fifty day moving average price of $92.21 and a 200-day moving average price of $96.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $11.97 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Adam Karon sold 5,628 shares of Akamai Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.20, for a total value of $485,133.60. Following the completion of the sale, the chief operating officer now directly owns 24,597 shares of the company’s stock, valued at $2,120,261.40. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock worth $3,759,934 over the last quarter. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AKAM. JPMorgan Chase & Co. reduced their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Susquehanna dropped their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.55.

About Akamai Technologies

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.