Greenland Capital Management LP Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Greenland Capital Management LP purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, Holdings Channel reports. The fund purchased 2,642 shares of the technology infrastructure company’s stock, valued at approximately $253,000.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $477,454,000. Geode Capital Management LLC increased 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 period. Nordea Investment Management AB raised its holdings in 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 worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after purchasing an additional 88,732 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Akamai Technologies by 3.3% during 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 in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

AKAM stock opened at $68.21 on Wednesday. The firm has a 50 day moving average of $86.24 and a two-hundred day moving average of $93.42. Akamai Technologies, Inc. has a 12 month low of $67.05 and a 12 month high of $107.60. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.74 and a beta of 0.80. 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 (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). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the acquisition, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AKAM shares. Oppenheimer began coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price objective for the company. Raymond James lowered their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. One research 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. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.55.

Akamai Technologies 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.