5,675 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by Pettee Investors Inc.

Pettee Investors Inc. purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,675 shares of the technology infrastructure company's stock, valued at approximately $543,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $49,000. Banque Cantonale Vaudoise grew its stake in Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock valued at $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. grew its stake in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock valued at $20,236,000 after buying an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock valued at $90,083,000 after buying an additional 11,272 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Akamai Technologies by 49.6% in the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after buying an additional 910 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

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Akamai Technologies Price Performance

Akamai Technologies stock traded down $0.99 during midday trading on Wednesday, reaching $79.66. The company's stock had a trading volume of 4,647,454 shares, compared to its average volume of 2,818,069. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.79. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $92.21 and a 200-day moving average price of $96.21. The stock has a market cap of $11.97 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on AKAM shares. Evercore ISI reiterated an "outperform" rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Craig Hallum downgraded Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a report on Friday, February 21st. Piper Sandler downgraded Akamai Technologies from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Oppenheimer raised 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $107.55.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the transaction, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at $2,984,424.80. The trade was a 11.88 % 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, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,176 shares of company stock worth $3,759,934. Insiders own 1.80% of the company's stock.

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.