Schroder Investment Management Group Decreases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Schroder Investment Management Group reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,337 shares of the technology infrastructure company's stock after selling 27,877,026 shares during the period. Schroder Investment Management Group's holdings in Akamai Technologies were worth $797,000 at the end of the most recent reporting period.

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

Akamai Technologies Stock Performance

NASDAQ:AKAM traded up $1.49 during midday trading on Friday, hitting $74.05. The company's stock had a trading volume of 2,515,351 shares, 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 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 $10.82 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.74 and a beta of 0.80. The firm's 50 day moving average is $84.24 and its 200-day moving average is $92.75.

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Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the executive vice president now directly owns 23,104 shares of the company's stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AKAM shares. Oppenheimer initiated coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective on the stock. Raymond James cut their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a report on Friday, February 21st. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Evercore ISI reiterated an "outperform" rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of "Moderate Buy" and an average price target of $105.55.

Akamai Technologies Company 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.