Swiss National Bank Has $40.94 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Swiss National Bank decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 428,000 shares of the technology infrastructure company's stock after selling 24,100 shares during the period. Swiss National Bank owned approximately 0.28% of Akamai Technologies worth $40,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Metis Global Partners LLC boosted its holdings in shares of Akamai Technologies by 5.6% in the third quarter. Metis Global Partners LLC now owns 8,471 shares of the technology infrastructure company's stock valued at $855,000 after acquiring an additional 450 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 4.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,536 shares of the technology infrastructure company's stock valued at $458,000 after acquiring an additional 188 shares in the last quarter. ING Groep NV boosted its holdings in shares of Akamai Technologies by 26.7% in the third quarter. ING Groep NV now owns 16,965 shares of the technology infrastructure company's stock valued at $1,713,000 after acquiring an additional 3,573 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Akamai Technologies by 7.3% in the third quarter. CIBC Asset Management Inc now owns 22,832 shares of the technology infrastructure company's stock valued at $2,305,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company's stock valued at $538,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Remove Ads

Akamai Technologies Stock Down 1.0 %

Shares of Akamai Technologies stock traded down $0.86 during midday trading on Thursday, reaching $81.55. 1,862,463 shares of the company's stock traded hands, compared to its average volume of 1,816,768. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company's 50 day simple moving average is $90.98 and its 200 day simple moving average is $95.52. 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 52 week low of $75.50 and a 52 week high of $110.18.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a "neutral" rating and a $110.00 target price for the company. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $98.00 in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and a consensus price target of $106.55.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares in the company, valued at $1,146,097.11. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was 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 worth $3,019,323 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.