Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Position Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,192 shares of the technology infrastructure company’s stock after selling 338 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Akamai Technologies were worth $1,262,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Akamai Technologies by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,140 shares of the technology infrastructure company’s stock worth $22,280,000 after buying an additional 12,435 shares during the period. Korea Investment CORP raised its stake in Akamai Technologies by 50.9% during the 4th quarter. Korea Investment CORP now owns 38,554 shares of the technology infrastructure company’s stock valued at $3,688,000 after acquiring an additional 13,000 shares in the last quarter. Prudential Financial Inc. boosted its position in Akamai Technologies by 7.4% during the 4th quarter. Prudential Financial Inc. now owns 102,449 shares of the technology infrastructure company’s stock worth $9,799,000 after acquiring an additional 7,035 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Akamai Technologies in the fourth quarter worth $4,774,000. Finally, AXQ Capital LP acquired a new position in shares of Akamai Technologies during the fourth quarter valued at $365,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This represents a 30.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of a number of recent analyst reports. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price for the company. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. Scotiabank cut their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Stock Down 1.9 %

Shares of Akamai Technologies stock opened at $80.05 on Monday. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $109.98. The company has a market cap of $12.03 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $89.69 and a 200 day moving average price of $94.68.

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

Akamai Technologies Company 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.