Akamai Technologies, Inc. (NASDAQ:AKAM) Position Increased by Andra AP fonden

Andra AP fonden increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 725.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,600 shares of the technology infrastructure company’s stock after purchasing an additional 5,800 shares during the period. Andra AP fonden’s holdings in Akamai Technologies were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AKAM. Farther Finance Advisors LLC lifted its holdings in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Van ECK Associates Corp increased its position in Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after acquiring an additional 105 shares during the period. QRG Capital Management Inc. increased its position in Akamai Technologies by 4.3% in the 3rd quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock valued at $822,000 after acquiring an additional 335 shares during the period. Principal Financial Group Inc. increased its position in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the period. Finally, Covestor Ltd increased its position in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird lowered their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Susquehanna lowered their target price 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. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, Raymond James lowered their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents 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 accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The shares were 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 approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,896 shares of company stock valued at $2,872,496 over the last quarter. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $87.52 on Monday. The stock has a market cap of $13.16 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The business has a fifty day simple moving average of $93.06 and a 200-day simple moving average of $96.60. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts anticipate 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.