Mitsubishi UFJ Asset Management Co. Ltd. Buys 12,435 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,140 shares of the technology infrastructure company's stock after acquiring an additional 12,435 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Akamai Technologies worth $22,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in Akamai Technologies during the 4th quarter valued at $49,000. Bruce G. Allen Investments LLC raised its holdings in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $57,000. TCTC Holdings LLC boosted its holdings in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the last quarter. 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 in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares in the company, valued at approximately $2,075,441.76. This represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded up $0.10 on Tuesday, hitting $80.60. The company's stock had a trading volume of 1,614,782 shares, compared to its average volume of 1,873,980. The company has a market capitalization of $12.12 billion, a PE ratio of 24.72, a PEG ratio of 2.74 and a beta of 0.68. 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 company has a 50-day simple moving average of $89.20 and a 200 day simple moving average of $94.44. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $108.74.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly 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). The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AKAM. Craig Hallum downgraded Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a research note on Friday, February 21st. Susquehanna decreased their target price on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research report on Friday, February 21st. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Piper Sandler cut shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased 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 note on Friday, February 21st. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.