Livforsakringsbolaget Skandia Omsesidigt Cuts Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,734 shares of the technology infrastructure company’s stock after selling 1,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $2,844,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the period. Nordea Investment Management AB raised its stake in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Akamai Technologies by 6.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after purchasing an additional 88,732 shares during the period. Retirement Systems of Alabama raised its stake in shares of Akamai Technologies by 8.9% during the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after purchasing an additional 74,373 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 1.3 %

Shares of AKAM opened at $99.61 on Friday. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. The stock’s fifty day simple moving average is $96.19 and its 200-day simple moving average is $97.71. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $14.96 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 3.57 and a beta of 0.65.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AKAM shares. UBS Group started coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Evercore ISI reissued an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup decreased their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $116.10.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at $2,366,686.89. The trade was a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,282 shares of company stock worth $2,099,996. 2.00% of the stock is owned by corporate insiders.

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.