Akamai Technologies, Inc. (NASDAQ:AKAM) Position Raised by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,140,257 shares of the technology infrastructure company's stock after purchasing an additional 138,380 shares during the period. Nordea Investment Management AB owned 1.42% of Akamai Technologies worth $205,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp purchased a new position in shares of Akamai Technologies during the second quarter valued at approximately $156,000. Oregon Public Employees Retirement Fund increased its stake in Akamai Technologies by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,112 shares of the technology infrastructure company's stock valued at $1,181,000 after purchasing an additional 200 shares during the last quarter. TD Asset Management Inc increased its stake in Akamai Technologies by 5.1% in the second quarter. TD Asset Management Inc now owns 66,222 shares of the technology infrastructure company's stock valued at $5,965,000 after purchasing an additional 3,186 shares during the last quarter. National Bank of Canada FI lifted its position in Akamai Technologies by 25.2% during the second quarter. National Bank of Canada FI now owns 42,301 shares of the technology infrastructure company's stock worth $3,787,000 after buying an additional 8,527 shares during the period. Finally, Arizona State Retirement System boosted its stake in Akamai Technologies by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 41,624 shares of the technology infrastructure company's stock worth $3,749,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AKAM shares. Robert W. Baird dropped their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Evercore ISI reaffirmed an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. UBS Group assumed coverage on Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 price objective for the company. Finally, Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies presently has an average rating of "Moderate Buy" and an average target price of $116.85.

Insider Activity

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company's stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,282 shares of company stock worth $1,733,716. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Stock Down 0.9 %

NASDAQ AKAM traded down $0.85 during mid-day trading on Tuesday, reaching $92.54. 1,298,451 shares of the company's stock traded hands, compared to its average volume of 1,538,263. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a fifty day simple moving average of $95.52 and a 200-day simple moving average of $97.28. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.83 and a beta of 0.64.

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.