62,856 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 62,856 shares of the technology infrastructure company's stock, valued at approximately $6,021,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC increased its position in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies in the 4th quarter valued at about $57,000. TCTC Holdings LLC raised its holdings in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of Akamai Technologies by 200.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock worth $68,000 after buying an additional 472 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of AKAM traded up $0.80 during midday trading on Monday, hitting $74.85. The company's stock had a trading volume of 171,333 shares, compared to its average volume of 1,916,797. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. 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 company's fifty day simple moving average is $84.24 and its two-hundred day simple moving average is $92.70. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective on the stock. Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Finally, Evercore ISI reissued an "outperform" rating and set 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 given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of "Moderate Buy" and an average price target of $105.55.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares of the company's stock, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the executive vice president now owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.