Arrowstreet Capital Limited Partnership Has $45.06 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Arrowstreet Capital Limited Partnership lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 58.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,122 shares of the technology infrastructure company’s stock after selling 667,726 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.31% of Akamai Technologies worth $45,063,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AKAM. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC lifted its holdings in shares of 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 worth $53,000 after purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at $57,000. TCTC Holdings LLC increased its stake in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after buying an additional 656 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Aaron Ahola sold 4,000 shares of the business’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. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the sale, the chief financial officer now directly owns 34,510 shares in the company, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,394 shares of company stock worth $3,019,323 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $80.60 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $108.74. The stock has a market capitalization of $12.12 billion, a P/E ratio of 24.72, a PEG ratio of 2.74 and a beta of 0.68. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $89.20 and its 200 day moving average is $94.44.

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). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AKAM shares. Citigroup decreased their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Scotiabank dropped their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $100.00 in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $106.55.

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.