Legal & General Group Plc Sells 457,980 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Legal & General Group Plc trimmed its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,576,235 shares of the technology infrastructure company's stock after selling 457,980 shares during the quarter. Legal & General Group Plc owned approximately 1.71% of Akamai Technologies worth $246,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AKAM. Envestnet Asset Management Inc. raised its position in Akamai Technologies by 6.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company's stock valued at $57,670,000 after purchasing an additional 37,673 shares during the last quarter. Aviva PLC raised its holdings in Akamai Technologies by 1.5% in the 4th quarter. Aviva PLC now owns 90,392 shares of the technology infrastructure company's stock valued at $8,646,000 after buying an additional 1,360 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $6,021,000. Integrated Quantitative Investments LLC bought a new stake in Akamai Technologies during the 4th quarter worth approximately $381,000. Finally, Atlas Capital Advisors Inc. increased its position in Akamai Technologies by 200.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after acquiring an additional 472 shares during the period. Institutional investors own 94.28% of the company's stock.

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Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, with a total value 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 approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Up 0.1 %

Shares of AKAM traded up $0.04 during trading hours on Monday, reaching $74.09. 264,978 shares of the stock traded hands, compared to its average volume of 1,917,186. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.74 and a beta of 0.80. The stock has a fifty day simple moving average of $84.24 and a 200 day simple moving average of $92.70. 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 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Raymond James lowered their price objective on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 target price on the stock. Finally, 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 research report on Friday, February 21st. One equities 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $105.55.

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.