KLP Kapitalforvaltning AS Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

KLP Kapitalforvaltning AS purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 49,906 shares of the technology infrastructure company's stock, valued at approximately $4,774,000.

A number of other large investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies in the 4th quarter valued at $49,000. Charles Schwab Investment Management Inc. grew its holdings in Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. Van ECK Associates Corp increased its stake in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after purchasing an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock valued at $19,018,000 after purchasing an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies during the 4th quarter worth about $827,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies 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 completion of the sale, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,394 shares of company stock valued at $3,019,323. 2.00% of the stock is currently owned by company insiders.

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Akamai Technologies Price Performance

NASDAQ AKAM traded down $1.51 during trading hours on Friday, hitting $80.05. The company had a trading volume of 1,683,043 shares, compared to its average volume of 1,872,502. 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 has a market capitalization of $12.03 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $109.98. The firm has a 50 day simple moving average of $89.69 and a 200 day simple moving average of $94.70.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research report on Friday, February 21st. Susquehanna decreased their price objective on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday, February 21st. Bank of America cut Akamai Technologies from a "buy" rating to a "neutral" rating and cut their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Evercore ISI restated an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

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.