Prudential Financial Inc. Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Prudential Financial Inc. raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,449 shares of the technology infrastructure company's stock after acquiring an additional 7,035 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Akamai Technologies worth $9,799,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of 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 period. Nordea Investment Management AB raised its position in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after buying an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Akamai Technologies by 6.3% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Akamai Technologies by 3.3% in the fourth 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 in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Akamai Technologies by 8.9% during the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock worth $87,188,000 after acquiring an additional 74,373 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

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Akamai Technologies Trading Down 0.5 %

AKAM stock traded down $0.37 during midday trading on Tuesday, hitting $80.13. The stock had a trading volume of 804,010 shares, compared to its average volume of 1,867,988. The company's 50-day moving average price is $89.48 and its 200 day moving average price is $94.57. 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 firm has a market cap of $12.04 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $109.98.

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

Insider Buying and Selling

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 completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, 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. Over the last quarter, insiders sold 35,394 shares of company stock valued at $3,019,323. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of analyst reports. Citigroup lowered their price objective on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Susquehanna reduced their target price on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. Finally, Raymond James reduced their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

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.