Canada Pension Plan Investment Board Sells 192,268 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Canada Pension Plan Investment Board trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 54.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,225 shares of the technology infrastructure company's stock after selling 192,268 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Akamai Technologies worth $15,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AKAM. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC boosted its holdings in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $57,000. TCTC Holdings LLC raised its stake in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its stake in shares of Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after purchasing an additional 472 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the sale, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at $2,984,424.80. The trade was a 11.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the 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 completion of the sale, the executive vice president now directly owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,394 shares of company stock worth $2,653,043 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AKAM shares. Citigroup dropped their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Royal Bank of Canada cut their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Oppenheimer assumed coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. Finally, Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.75.

Akamai Technologies Stock Performance

NASDAQ AKAM traded up $2.22 on Wednesday, hitting $75.89. The stock had a trading volume of 2,079,992 shares, compared to its average volume of 1,928,787. The company's 50-day moving average is $79.97 and its two-hundred day moving average is $91.32. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The stock has a market cap of $11.09 billion, a price-to-earnings 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 (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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.