Marshall Wace LLP Has $16.74 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Marshall Wace LLP reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 175,035 shares of the technology infrastructure company's stock after selling 46,795 shares during the period. Marshall Wace LLP owned about 0.12% of Akamai Technologies worth $16,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC increased its holdings 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 acquiring an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after purchasing an additional 114 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of Akamai Technologies by 1.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after purchasing an additional 116 shares during the last quarter. Delta Capital Management LLC lifted its stake in Akamai Technologies by 4.5% in the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock valued at $267,000 after buying an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its holdings in Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after buying an additional 140 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded up $2.22 during trading hours on Wednesday, reaching $75.89. 2,079,992 shares of the stock were exchanged, compared to its average volume of 1,928,787. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. 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 firm has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $91.32.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO F Thomson Leighton bought 37,670 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction 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. The trade was a 37.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 6,431 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the transaction, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at $1,146,097.11. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,394 shares of company stock worth $2,653,043. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several research reports. Bank of America downgraded Akamai Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Piper Sandler lowered their target price on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Susquehanna decreased their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Finally, TD Cowen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the company from $125.00 to $98.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and a consensus target price of $104.75.

About Akamai Technologies

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.