Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,331 shares of the technology infrastructure company’s stock after purchasing an additional 3,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Akamai Technologies were worth $3,184,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC grew its position in shares of 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 acquiring an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $57,000. Jones Financial Companies Lllp grew its position in shares of Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after acquiring an additional 656 shares in the last quarter. Finally, Principal Securities Inc. grew its position in shares of Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares in the company, valued at approximately $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 over the last three months. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 2.6 %

Shares of Akamai Technologies stock opened at $80.73 on Monday. The stock’s fifty day moving average is $91.62 and its 200-day moving average is $95.88. The firm has a market capitalization of $12.14 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. 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 $110.18.

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). The company had revenue of $1.02 billion for 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%. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AKAM shares. Susquehanna decreased their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, February 21st. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $112.00 to $100.00 in a research report on Friday, February 21st. Finally, Citigroup reduced their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

About Akamai Technologies

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.