Royal London Asset Management Ltd. Purchases 7,595 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Royal London Asset Management Ltd. lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,458 shares of the technology infrastructure company's stock after buying an additional 7,595 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Akamai Technologies were worth $6,644,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC raised its stake in Akamai Technologies by 17.0% during 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. D.A. Davidson & CO. raised its position in shares of Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company's stock worth $894,000 after purchasing an additional 115 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after purchasing an additional 116 shares in the last quarter. Delta Capital Management LLC grew its position in Akamai Technologies by 4.5% during the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock valued at $267,000 after purchasing an additional 120 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in Akamai Technologies by 0.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock valued at $2,879,000 after purchasing an additional 140 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 6,431 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the transaction, the chief operating officer now owns 14,239 shares of the company's stock, valued at $1,146,097.11. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,394 shares of company stock worth $3,019,323. 2.00% of the stock is owned by corporate insiders.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.09 during trading on Thursday, hitting $81.56. The company had a trading volume of 1,191,920 shares, compared to its average volume of 1,832,585. The stock has a 50 day simple moving average of $90.09 and a 200 day simple moving average of $94.90. The firm has a market capitalization of $12.26 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.14.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Susquehanna dropped their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. 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 for the company. Piper Sandler cut Akamai Technologies from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

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.