CANADA LIFE ASSURANCE Co Has $40.66 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

CANADA LIFE ASSURANCE Co grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,214 shares of the technology infrastructure company's stock after buying an additional 25,440 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.28% of Akamai Technologies worth $40,656,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farringdon Capital Ltd. purchased a new position in Akamai Technologies in the 4th quarter valued at about $574,000. NewEdge Advisors LLC boosted its stake in Akamai Technologies by 8.0% in the 4th quarter. NewEdge Advisors LLC now owns 18,367 shares of the technology infrastructure company's stock worth $1,757,000 after buying an additional 1,354 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Akamai Technologies by 24.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 7,883 shares of the technology infrastructure company's stock worth $754,000 after acquiring an additional 1,557 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $259,000. Finally, Townsquare Capital LLC acquired a new position in Akamai Technologies during the fourth quarter worth approximately $221,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of research analyst reports. 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. Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their price objective for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Finally, Citigroup lowered their price objective on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Akamai Technologies Stock Performance

AKAM stock traded up $2.22 during mid-day trading on Wednesday, reaching $75.89. The company had a trading volume of 2,079,970 shares, compared to its average volume of 1,925,072. The stock's 50-day simple moving average is $80.46 and its two-hundred day simple moving average is $91.43. The stock has a market capitalization of $11.09 billion, a P/E ratio of 23.28, 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, Inc. has a one year low of $67.51 and a one year high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) 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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other news, CEO F Thomson Leighton acquired 37,670 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated 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 directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,394 shares of company stock worth $2,653,043. 1.80% of the stock is owned by company insiders.

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.