APG Asset Management N.V. Acquires 75,438 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

APG Asset Management N.V. lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 46.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,658 shares of the technology infrastructure company's stock after purchasing an additional 75,438 shares during the quarter. APG Asset Management N.V. owned 0.16% of Akamai Technologies worth $22,045,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Akamai Technologies during the 4th quarter valued at about $477,454,000. Geode Capital Management LLC lifted its stake in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB boosted its position in Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock valued at $205,743,000 after buying an additional 138,380 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after buying an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Akamai Technologies by 8.9% in the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock worth $87,188,000 after buying an additional 74,373 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Remove Ads

Akamai Technologies Stock Up 0.3 %

AKAM stock traded up $0.21 on Tuesday, reaching $74.36. 252,359 shares of the company traded hands, compared to its average volume of 1,914,394. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a fifty day simple moving average of $83.71 and a 200-day simple moving average of $92.50. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The company has a market cap of $10.87 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations 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 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AKAM. TD Cowen lowered Akamai Technologies from a "buy" rating to a "hold" rating and reduced their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target for the company. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies 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 issued a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and an average target price of $105.55.

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.