Allspring Global Investments Holdings LLC Purchases 68,681 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Allspring Global Investments Holdings LLC lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 67.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,856 shares of the technology infrastructure company's stock after buying an additional 68,681 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Akamai Technologies worth $16,303,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after buying an additional 114 shares in the last quarter. 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. Eastern Bank bought a new stake in Akamai Technologies in the 3rd quarter valued at $71,000. Covestor Ltd increased its holdings in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock valued at $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Akamai Technologies in the 3rd quarter valued at $102,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 12,716 shares of the company's stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares of the company's stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last three months. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AKAM shares. Hsbc Global Res upgraded shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. UBS Group started coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price target on the stock. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Finally, Citigroup reduced their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $117.95.

Akamai Technologies Trading Down 2.2 %

NASDAQ:AKAM traded down $2.21 during mid-day trading on Thursday, hitting $98.05. 2,968,584 shares of the stock traded hands, compared to its average volume of 1,758,572. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.55 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $113.36. The firm's 50 day moving average is $96.64 and its two-hundred day moving average is $97.96. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

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 (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.28 earnings per share for the current year.

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.