Cibc World Markets Corp Has $2.27 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cibc World Markets Corp grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,741 shares of the technology infrastructure company’s stock after acquiring an additional 3,155 shares during the period. Cibc World Markets Corp’s holdings in Akamai Technologies were worth $2,271,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AKAM. National Pension Service raised its stake in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after acquiring an additional 273,043 shares during the last quarter. 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 acquiring an additional 202,746 shares during the last quarter. Tredje AP fonden raised its stake in shares of Akamai Technologies by 580.4% during the fourth quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock valued at $16,239,000 after acquiring an additional 144,823 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Akamai Technologies by 20.0% during the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Finally, 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 acquiring an additional 138,380 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton bought 37,670 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 1.0 %

NASDAQ:AKAM opened at $81.55 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a 50-day moving average of $90.74 and a 200-day moving average of $95.42. The company has a market cap of $12.26 billion, a PE ratio of 25.02, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last posted 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 for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AKAM shares. Oppenheimer initiated coverage on shares of Akamai Technologies in a research note on Thursday. They set an “outperform” rating and a $100.00 price target for the company. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Citigroup lowered their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Royal Bank of Canada lowered their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Finally, Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

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.