Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,323,996 shares of the technology infrastructure company's stock after selling 804,712 shares during the quarter. Akamai Technologies makes up about 3.8% of Edmond DE Rothschild Holding S.A.'s investment portfolio, making the stock its 2nd largest position. Edmond DE Rothschild Holding S.A. owned approximately 1.55% of Akamai Technologies worth $222,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Akamai Technologies in the 4th quarter worth $477,454,000. National Pension Service raised its holdings in Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 in the last quarter. Tredje AP fonden boosted its holdings in shares of Akamai Technologies by 580.4% in the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company's stock valued at $16,239,000 after buying an additional 144,823 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock valued at $84,511,000 after buying an additional 139,760 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

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Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now directly 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 sale 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 the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company's stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AKAM. JPMorgan Chase & Co. decreased their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Citigroup decreased their price objective on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Raymond James dropped their target price on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Bank of America cut Akamai Technologies from a "buy" rating to a "neutral" rating and decreased their price target for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Needham & Company LLC restated 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 given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.55.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded up $0.10 during mid-day trading on Tuesday, hitting $80.60. The company's stock had a trading volume of 1,614,782 shares, compared to its average volume of 1,873,980. The business's fifty day moving average is $89.20 and its two-hundred day moving average is $94.44. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $108.74.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued 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 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%. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal 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.