Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,448 shares of the technology infrastructure company's stock, valued at approximately $617,000.
Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in Akamai Technologies by 5.1% in 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. Nordea Investment Management AB increased its position 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 worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock valued at $151,401,000 after purchasing an additional 88,732 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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. Finally, Retirement Systems of Alabama grew its stake in Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock worth $87,188,000 after buying an additional 74,373 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.
Analyst Ratings Changes
AKAM has been the subject of several research analyst reports. Bank of America downgraded Akamai Technologies from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Citigroup decreased their price target 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. Piper Sandler lowered shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Raymond James reduced their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Finally, Scotiabank lowered their price target on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $106.55.
Get Our Latest Report on Akamai Technologies
Akamai Technologies Price Performance
AKAM traded down $0.42 on Wednesday, hitting $81.43. 1,210,501 shares of the company were exchanged, compared to its average volume of 1,831,055. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $110.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm has a market capitalization of $12.24 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The business's fifty day moving average is $90.27 and its 200 day moving average is $94.99.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.
Insider Buying and Selling at Akamai Technologies
In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares of the company's stock, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,394 shares of company stock worth $3,019,323. 2.00% of the stock is owned by insiders.
Akamai Technologies Profile
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Free Report)
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.
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