LGT Fund Management Co Ltd. Sells 1,220 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Fund Management Co Ltd. decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,679 shares of the technology infrastructure company’s stock after selling 1,220 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Akamai Technologies were worth $352,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $49,000. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $57,000. Finally, Jones Financial Companies Lllp boosted its holdings in Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Raymond James decreased their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada decreased their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $81.00 on Tuesday. 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 company has a fifty day moving average of $94.13 and a two-hundred day moving average of $97.10. The stock has a market capitalization of $12.18 billion, a PE ratio of 24.85, a P/E/G ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies 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.