Intact Investment Management Inc. Has $1 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Intact Investment Management Inc. grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 55.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the technology infrastructure company's stock after purchasing an additional 3,750 shares during the period. Intact Investment Management Inc.'s holdings in Akamai Technologies were worth $1,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock worth $25,000 after purchasing an additional 114 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC grew its position 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 purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies in the 4th quarter worth $57,000. Finally, Jones Financial Companies Lllp grew its position in Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock worth $77,000 after purchasing an additional 656 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $125.00 to $100.00 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 price objective for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Evercore ISI reissued an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. 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 report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $107.55.

Akamai Technologies Trading Up 0.4 %

Shares of NASDAQ:AKAM traded up $0.35 during trading on Wednesday, hitting $82.41. 1,701,432 shares of the company's stock were exchanged, compared to its average volume of 1,814,699. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.18. The firm has a 50-day moving average price of $91.20 and a two-hundred day moving average price of $95.61. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12.39 billion, a P/E ratio of 25.28, a PEG ratio of 2.74 and a beta of 0.68.

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

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 37,670 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business's 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 transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last quarter. 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.