PGGM Investments Has $1.84 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

PGGM Investments cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 37.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,226 shares of the technology infrastructure company's stock after selling 11,582 shares during the period. PGGM Investments' holdings in Akamai Technologies were worth $1,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its stake 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. Disciplined Growth Investors Inc. MN lifted its stake in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock valued at $151,401,000 after acquiring an additional 88,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after acquiring an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock valued at $87,188,000 after acquiring an additional 74,373 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. Susquehanna dropped their price target on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. 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 note on Friday, February 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $107.55.

Akamai Technologies Trading Down 0.9 %

Akamai Technologies stock traded down $0.73 during trading hours on Tuesday, reaching $82.06. 1,668,663 shares of the company's stock were exchanged, compared to its average volume of 1,814,145. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm's 50 day simple moving average is $91.41 and its 200 day simple moving average is $95.75. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $110.18. The firm has a market capitalization of $12.34 billion, a PE ratio of 25.17, a PEG ratio of 2.74 and a beta of 0.68.

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

Insider Activity

In other news, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated 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 of the company's stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last three months. Company 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.