Cibc World Markets Corp Has $2.27 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cibc World Markets Corp boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,741 shares of the technology infrastructure company's stock after acquiring an additional 3,155 shares during the period. Cibc World Markets Corp's holdings in Akamai Technologies were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC raised 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 valued at $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC bought a new position in Akamai Technologies in the 4th quarter valued at about $57,000. Jones Financial Companies Lllp boosted its holdings in shares of Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock worth $77,000 after acquiring an additional 656 shares during the period. Finally, Principal Securities Inc. grew its position in shares of Akamai Technologies by 24.2% in the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company's stock valued at $86,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Activity

In related news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. This trade represents a 13.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 34,510 shares of the company's stock, valued at approximately $2,984,424.80. This trade represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AKAM has been the subject of several research reports. Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Scotiabank dropped their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research note on Friday, February 21st. Finally, Evercore ISI restated an "outperform" rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.55.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded down $0.92 during midday trading on Tuesday, hitting $81.85. 2,086,165 shares of the company traded hands, compared to its average volume of 1,830,108. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm's fifty day moving average price is $90.45 and its 200-day moving average price is $95.09. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.14.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced 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). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion for 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 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.