Pictet Asset Management Holding SA Increases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pictet Asset Management Holding SA increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,873 shares of the technology infrastructure company's stock after purchasing an additional 9,798 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Akamai Technologies worth $8,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies during the 4th quarter valued at $49,000. Van ECK Associates Corp grew its holdings in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after acquiring an additional 910 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock valued at $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Cascade Investment Advisors Inc. bought a new position in Akamai Technologies in the fourth quarter valued at about $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Akamai Technologies in the fourth quarter worth about $617,000. Institutional investors own 94.28% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on AKAM. Evercore ISI reaffirmed an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Oppenheimer initiated coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price for the company. Craig Hallum cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research note on Friday, February 21st. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Finally, UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 target price on the stock. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

Akamai Technologies Price Performance

AKAM stock traded down $2.76 during mid-day trading on Monday, hitting $70.93. The company had a trading volume of 3,467,799 shares, compared to its average volume of 1,891,012. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.74 and a beta of 0.80. The company has a 50-day moving average price of $87.53 and a 200 day moving average price of $93.81. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12-month low of $69.50 and a 12-month high of $107.60.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently 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.