Vanguard Group Inc. Grows Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Vanguard Group Inc. lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,247,897 shares of the technology infrastructure company's stock after acquiring an additional 29,593 shares during the quarter. Vanguard Group Inc. owned approximately 12.15% of Akamai Technologies worth $1,745,411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $49,000. Bruce G. Allen Investments LLC lifted its stake in shares of 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 valued at $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Akamai Technologies in the 4th quarter worth $57,000. TCTC Holdings LLC increased its stake in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after buying an additional 102 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock valued at $77,000 after acquiring an additional 656 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms recently issued reports on AKAM. Piper Sandler cut Akamai Technologies from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of 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. Craig Hallum lowered 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 report on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and reduced their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Finally, UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Akamai Technologies currently has an average rating of "Moderate Buy" and an average target price of $106.55.

Akamai Technologies Trading Up 0.6 %

NASDAQ:AKAM traded up $0.45 during midday trading on Monday, hitting $80.50. The stock had a trading volume of 1,691,482 shares, compared to its average volume of 1,871,781. 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 stock has a 50-day moving average of $89.48 and a 200 day moving average of $94.57. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 24.69, 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 $109.98.

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). 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 during the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity

In other Akamai Technologies news, 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 value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the 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 approximately $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 1.80% of the company's stock.

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.