Tower Research Capital LLC TRC Purchases 8,171 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tower Research Capital LLC TRC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 317.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,748 shares of the technology infrastructure company's stock after buying an additional 8,171 shares during the period. Tower Research Capital LLC TRC's holdings in Akamai Technologies were worth $1,028,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP boosted its holdings in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after acquiring an additional 690,341 shares in the last quarter. Norges Bank acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at about $477,454,000. Nordea Investment Management AB grew its holdings in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after buying an additional 29,888 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock valued at $87,188,000 after buying an additional 74,373 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Raymond James lowered their target price on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating 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 report on Friday, February 21st. Citigroup decreased their price target on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Finally, Oppenheimer assumed coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.75.

Akamai Technologies Stock Up 0.5 %

AKAM stock traded up $0.39 during trading on Monday, reaching $80.18. 1,354,618 shares of the stock were exchanged, compared to its average volume of 1,935,804. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The firm's 50 day moving average is $79.17 and its 200 day moving average is $90.85. The firm has a market cap of $11.72 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) 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 return on equity of 14.35% and a net margin of 12.65%. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the company's stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 31,394 shares of company stock valued at $2,653,043 over the last three months. Corporate insiders own 1.80% of the company's stock.

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.