Mitsubishi UFJ Asset Management Co. Ltd. Acquires 12,435 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 238,140 shares of the technology infrastructure company’s stock after acquiring an additional 12,435 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $22,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the 4th quarter worth $49,000. Bruce G. Allen Investments LLC raised its holdings in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Wolverine Asset Management LLC purchased a new position in Akamai Technologies during the fourth quarter valued at $57,000. TCTC Holdings LLC grew its holdings 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 purchasing an additional 102 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares of the company’s stock, valued at $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $80.05 on Monday. The firm has a fifty day simple moving average of $89.69 and a two-hundred day simple moving average of $94.68. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $109.98. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.03 billion, a P/E ratio of 24.56, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS 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 company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AKAM shares. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Susquehanna lowered their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Oppenheimer began coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $106.55.

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.