Ossiam Purchases 6,418 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ossiam lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,035 shares of the technology infrastructure company’s stock after purchasing an additional 6,418 shares during the period. Ossiam’s holdings in Akamai Technologies were worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Akamai Technologies during the 4th quarter worth $49,000. Van ECK Associates Corp grew its stake in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after acquiring an additional 910 shares in the last quarter. Cascade Investment Advisors Inc. bought a new position in Akamai Technologies during the fourth quarter worth about $827,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the 4th quarter worth about $617,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after purchasing an additional 29,888 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 0.5 %

NASDAQ AKAM opened at $73.46 on Monday. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The business’s fifty day moving average is $81.56 and its 200 day moving average is $91.76. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at $2,040,074.12. This represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,394 shares of company stock valued at $2,653,043 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AKAM has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada decreased their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, Bank of America downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

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.