Mitsubishi UFJ Trust & Banking Corp Decreases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,938 shares of the technology infrastructure company’s stock after selling 866 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.16% of Akamai Technologies worth $23,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $49,000. Bruce G. Allen Investments LLC lifted its position in Akamai Technologies by 38.8% during 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 during the period. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies during the 4th quarter valued at about $57,000. TCTC Holdings LLC increased its holdings in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the sale, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred 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. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 over the last three months. Insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Up 0.1 %

AKAM stock opened at $81.56 on Friday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.14. The business’s 50-day moving average is $89.91 and its 200 day moving average is $94.80. 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 has a market cap of $12.26 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly 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 return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AKAM shares. 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. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.