Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,247,897 shares of the technology infrastructure company’s stock after acquiring an additional 29,593 shares during the quarter. Vanguard Group Inc. owned 12.15% of Akamai Technologies worth $1,745,411,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. National Pension Service increased its holdings in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the period. Geode Capital Management LLC grew its position in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares in the last quarter. Tredje AP fonden increased its stake in Akamai Technologies by 580.4% during the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock valued at $16,239,000 after buying an additional 144,823 shares during the period. Retirement Systems of Alabama increased its stake in Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after buying an additional 139,760 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after buying an additional 138,380 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.5 %

Shares of NASDAQ AKAM opened at $81.47 on Thursday. 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 one year low of $75.50 and a one year high of $110.14. The business has a 50-day moving average price of $90.09 and a two-hundred day moving average price of $94.90. The firm has a market capitalization of $12.25 billion, a PE ratio of 24.99, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly 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 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, analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the transaction, the chief operating officer now owns 14,239 shares of the company’s stock, valued at approximately $1,146,097.11. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on 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. Over the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AKAM shares. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered 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. Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

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.