LGT Capital Partners LTD. lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,600 shares of the technology infrastructure company's stock after selling 72,814 shares during the quarter. LGT Capital Partners LTD. owned approximately 0.17% of Akamai Technologies worth $24,544,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service lifted its stake in Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Retirement Systems of Alabama grew its position in Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock worth $84,511,000 after purchasing an additional 139,760 shares during the last quarter. Nordea Investment Management AB boosted its holdings 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 valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $13,313,000. Institutional investors own 94.28% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on AKAM shares. Raymond James lowered their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.55.
Get Our Latest Stock Analysis on AKAM
Akamai Technologies Price Performance
Shares of NASDAQ AKAM traded down $1.00 during mid-day trading on Thursday, reaching $78.66. 2,447,097 shares of the company traded hands, compared to its average volume of 2,810,352. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a market cap of $11.82 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The stock has a fifty day simple moving average of $92.21 and a 200-day simple moving average of $96.21. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $110.18.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the sale, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. This represents a 11.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock valued at $3,759,934 over the last quarter. Corporate insiders own 1.80% of the company's stock.
Akamai Technologies 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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