Korea Investment CORP Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Korea Investment CORP boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 50.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,554 shares of the technology infrastructure company's stock after purchasing an additional 13,000 shares during the period. Korea Investment CORP's holdings in Akamai Technologies were worth $3,688,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AKAM. Prudential Financial Inc. grew its holdings in Akamai Technologies by 7.4% during the fourth quarter. Prudential Financial Inc. now owns 102,449 shares of the technology infrastructure company's stock valued at $9,799,000 after purchasing an additional 7,035 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Akamai Technologies during the 4th quarter valued at approximately $4,774,000. AXQ Capital LP purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $365,000. Sciencast Management LP bought a new stake in Akamai Technologies during the 4th quarter worth approximately $758,000. Finally, Royal London Asset Management Ltd. raised its stake in Akamai Technologies by 12.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 69,458 shares of the technology infrastructure company's stock worth $6,644,000 after acquiring an additional 7,595 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Down 6.5 %

NASDAQ AKAM traded down $5.09 during midday trading on Friday, hitting $73.69. 2,610,528 shares of the company traded hands, compared to its average volume of 1,884,705. Akamai Technologies, Inc. has a 52 week low of $73.42 and a 52 week high of $107.60. The company's 50-day simple moving average is $88.11 and its 200-day simple moving average is $94.01. The company has a market cap of $11.08 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

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

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 23,104 shares of the company's stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought 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 disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Craig Hallum cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. Citigroup cut their price target on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. TD Cowen cut Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective for the company. Finally, Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.55.

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.