Securian Asset Management Inc. Decreases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Securian Asset Management Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,030 shares of the technology infrastructure company’s stock after selling 205 shares during the quarter. Securian Asset Management Inc.’s holdings in Akamai Technologies were worth $768,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AKAM. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC increased its holdings in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Akamai Technologies during the fourth quarter valued at about $57,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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 acquiring an additional 656 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 2.6 %

Akamai Technologies stock opened at $80.73 on Friday. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.18. The firm has a market cap of $12.14 billion, a PE ratio of 24.76, 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’s 50 day simple moving average is $91.62 and its two-hundred day simple moving average is $95.91.

Akamai Technologies (NASDAQ:AKAM) last announced its 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analysts Set New Price Targets

AKAM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $112.00 to $100.00 in a report on Friday, February 21st. One research 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 company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $107.55.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 46,176 shares of company stock worth $4,083,614 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.