Wolverine Asset Management LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 600 shares of the technology infrastructure company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Akamai Technologies by 6.3% during the 3rd 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 acquiring an additional 88,732 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after acquiring an additional 74,373 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 dated 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 $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,782 shares of company stock worth $1,523,951. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

AKAM stock opened at $77.65 on Tuesday. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 3.50 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36. The business’s fifty day simple moving average is $95.75 and its two-hundred day simple moving average is $97.84.

Akamai Technologies (NASDAQ:AKAM) last announced 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). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. Analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $100.00 in a research report on Friday. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday. Finally, Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

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.