Bank Julius Baer & Co. Ltd Zurich Lowers Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bank Julius Baer & Co. Ltd Zurich reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 27.4% in the 4th quarter, Holdings Channel reports. The fund owned 2,474 shares of the technology infrastructure company’s stock after selling 933 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Akamai Technologies were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Syon Capital LLC purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $411,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 6.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,975 shares of the technology infrastructure company’s stock valued at $470,000 after purchasing an additional 238 shares during the last quarter. Alaska Permanent Fund Corp acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $1,590,000. Watershed Asset Management L.L.C. acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $294,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Akamai Technologies by 126.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,617 shares of the technology infrastructure company’s stock valued at $191,000 after purchasing an additional 904 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,353 shares of company stock valued at $3,688,883. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Citigroup decreased their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $128.00 to $135.00 in a report on Thursday, March 7th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Finally, Piper Sandler lifted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $101.68 on Friday. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $106.97 and its 200 day moving average price is $112.30.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.84 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.