Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Position Decreased by APG Asset Management US Inc.

APG Asset Management US Inc. trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 70.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,770 shares of the technology infrastructure company's stock after selling 11,607 shares during the quarter. APG Asset Management US Inc.'s holdings in Akamai Technologies were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $477,454,000. Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Nordea Investment Management AB lifted 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 purchasing an additional 138,380 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after buying an additional 29,888 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Akamai Technologies by 8.9% in the 4th 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 last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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Akamai Technologies Stock Performance

NASDAQ:AKAM traded up $0.21 during mid-day trading on Tuesday, reaching $74.36. 252,359 shares of the stock were exchanged, compared to its average volume of 1,914,394. 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 1 year low of $67.51 and a 1 year high of $106.80. The company has a 50 day simple moving average of $83.71 and a 200-day simple moving average of $92.50. The stock has a market capitalization of $10.87 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced 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). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AKAM shares. Royal Bank of Canada dropped their target price on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Piper Sandler dropped their price objective on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Susquehanna lowered their price objective on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $105.55.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares of the company's stock, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares in the company, valued at approximately $2,075,441.76. The trade was a 30.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is owned by company insiders.

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.