Sterling Capital Management LLC Grows Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sterling Capital Management LLC increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,474 shares of the technology infrastructure company's stock after purchasing an additional 8,893 shares during the quarter. Sterling Capital Management LLC owned approximately 0.19% of Akamai Technologies worth $27,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target 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. Raymond James dropped their target price 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. Finally, Scotiabank dropped their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a research note on Friday, February 21st. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $105.55.

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Insider Activity at Akamai Technologies

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 value 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 document filed with the SEC, which is available at this link. Also, CEO F Thomson Leighton bought 37,670 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, 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 ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.36 during midday trading on Tuesday, hitting $74.51. 936,719 shares of the stock traded hands, compared to its average volume of 1,917,042. The firm has a market capitalization of $10.89 billion, a P/E ratio of 22.86, a PEG ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm has a 50-day moving average of $83.71 and a two-hundred day moving average of $92.50.

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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.