Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Prudential PLC

Prudential PLC trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 32.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 49,774 shares of the technology infrastructure company's stock after selling 24,397 shares during the period. Prudential PLC's holdings in Akamai Technologies were worth $4,761,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AKAM. Norges Bank acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $477,454,000. National Pension Service boosted its position in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after buying an additional 273,043 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 202,746 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Akamai Technologies by 580.4% in the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company's stock valued at $16,239,000 after buying an additional 144,823 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock worth $84,511,000 after acquiring an additional 139,760 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AKAM. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Oppenheimer began coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.55.

Akamai Technologies Stock Up 2.1 %

NASDAQ:AKAM traded up $1.49 during midday trading on Friday, hitting $74.05. 2,515,351 shares of the company were exchanged, compared to its average volume of 1,920,105. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The company has a market capitalization of $10.82 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. 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 company has a fifty day simple moving average of $84.24 and a 200 day simple moving average of $92.75.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its 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). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.