Grantham Mayo Van Otterloo & Co. LLC lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 57.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,950 shares of the technology infrastructure company's stock after selling 164,760 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.08% of Akamai Technologies worth $11,569,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Akamai Technologies in the fourth quarter worth about $477,454,000. Geode Capital Management LLC boosted its position in shares of Akamai Technologies by 5.1% in the 3rd 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. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after buying an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock valued at $151,401,000 after buying an additional 88,732 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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. 94.28% of the stock is currently owned by institutional investors.
Insider Transactions at Akamai Technologies
In other news, CEO F Thomson Leighton purchased 37,670 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost 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 $10,929,676.36. This trade represents a 37.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 over the last quarter. 1.80% of the stock is currently owned by company insiders.
Akamai Technologies Stock Performance
AKAM stock traded up $1.49 during midday trading on Friday, reaching $74.05. 2,515,351 shares of the company's stock traded hands, compared to its average volume of 1,920,105. The stock's 50-day moving average is $84.24 and its 200 day moving average is $92.75. The stock has a market cap of $10.82 billion, a P/E ratio of 22.71, a PEG ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data 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). 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%. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Craig Hallum cut Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a research note on Friday, February 21st. Raymond James cut their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a report on Friday, February 21st. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $125.00 to $100.00 in a report on Friday, February 21st. Finally, TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $125.00 to $98.00 in a 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $105.55.
Read Our Latest Research Report on Akamai Technologies
Akamai Technologies Company Profile
(
Free Report)
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.
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