National Bank of Canada FI Reduces Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

National Bank of Canada FI reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,354 shares of the technology infrastructure company's stock after selling 7,089 shares during the quarter. National Bank of Canada FI's holdings in Akamai Technologies were worth $6,729,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $477,454,000. National Pension Service increased its stake in Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after buying an additional 273,043 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after acquiring an additional 202,746 shares in the last quarter. Tredje AP fonden boosted its stake in shares of Akamai Technologies by 580.4% in the fourth quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company's stock worth $16,239,000 after acquiring an additional 144,823 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock valued at $84,511,000 after purchasing an additional 139,760 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

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Akamai Technologies Trading Up 2.1 %

Shares of AKAM stock traded up $1.49 during trading hours on Friday, hitting $74.05. The company had a trading volume of 2,515,351 shares, compared to its average volume of 1,920,105. 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 stock has a market capitalization of $10.82 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The company's fifty day moving average is $84.24 and its 200 day moving average is $92.75. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

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). 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 analyst estimates of $1.02 billion. Research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AKAM. Royal Bank of Canada dropped their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Susquehanna lowered their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research report on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their price objective for the company from $125.00 to $98.00 in a report on Friday, February 21st. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Scotiabank dropped their price target on 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 assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of "Moderate Buy" and an average target price of $105.55.

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 stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares of the company's stock, 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 worth $3,019,323 in the last three months. 1.80% of the stock is owned by company insiders.

Akamai Technologies 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.