Elo Mutual Pension Insurance Co Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Elo Mutual Pension Insurance Co lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,192 shares of the technology infrastructure company’s stock after selling 338 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Akamai Technologies were worth $1,262,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Akamai Technologies by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,140 shares of the technology infrastructure company’s stock valued at $22,280,000 after acquiring an additional 12,435 shares during the last quarter. Korea Investment CORP increased its position in Akamai Technologies by 50.9% during the fourth quarter. Korea Investment CORP now owns 38,554 shares of the technology infrastructure company’s stock worth $3,688,000 after purchasing an additional 13,000 shares during the last quarter. Prudential Financial Inc. raised its stake in Akamai Technologies by 7.4% during the fourth quarter. Prudential Financial Inc. now owns 102,449 shares of the technology infrastructure company’s stock worth $9,799,000 after purchasing an additional 7,035 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $4,774,000. Finally, AXQ Capital LP purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $365,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Oppenheimer began 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. UBS Group started coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.55.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Trading Down 1.9 %

NASDAQ AKAM opened at $80.05 on Monday. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $109.98. The company’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $94.68.

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 analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion during 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 predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.