Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Palouse Capital Management Inc.

Palouse Capital Management Inc. grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 94.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,209 shares of the technology infrastructure company's stock after acquiring an additional 11,790 shares during the period. Akamai Technologies comprises approximately 1.5% of Palouse Capital Management Inc.'s portfolio, making the stock its 29th largest position. Palouse Capital Management Inc.'s holdings in Akamai Technologies were worth $2,316,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in 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. Retirement Systems of Alabama boosted its stake in Akamai Technologies by 20.0% in the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock valued at $84,511,000 after acquiring an additional 139,760 shares in the last quarter. Nordea Investment Management AB boosted its stake in Akamai Technologies by 6.9% in the fourth 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 in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Akamai Technologies in the third quarter valued at $13,313,000. Finally, Invenomic Capital Management LP boosted its stake in Akamai Technologies by 252.2% in the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company's stock valued at $17,766,000 after acquiring an additional 126,021 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Trading Down 2.2 %

NASDAQ AKAM traded down $2.21 during mid-day trading on Thursday, reaching $98.05. 3,033,388 shares of the stock were exchanged, compared to its average volume of 1,762,445. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $113.36. The business's fifty day simple moving average is $96.60 and its 200 day simple moving average is $97.96. The stock has a market capitalization of $14.73 billion, a PE ratio of 29.01, a PEG ratio of 3.55 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced 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). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective for the company. Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a report on Friday, November 8th. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a report on Monday, December 2nd. Finally, Hsbc Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Akamai Technologies presently has an average rating of "Moderate Buy" and an average target price of $117.95.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is owned by insiders.

About Akamai Technologies

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.