Resona Asset Management Co. Ltd. Buys Shares of 62,856 Akamai Technologies, Inc. (NASDAQ:AKAM)

Resona Asset Management Co. Ltd. purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 62,856 shares of the technology infrastructure company’s stock, valued at approximately $6,021,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AKAM. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the fourth quarter worth $49,000. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the 4th quarter valued at about $57,000. TCTC Holdings LLC raised its stake in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after buying an additional 102 shares during the last quarter. Finally, Atlas Capital Advisors Inc. boosted its holdings in Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock worth $68,000 after acquiring an additional 472 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Down 3.8 %

Shares of AKAM opened at $68.21 on Wednesday. The firm has a market cap of $10.25 billion, a P/E ratio of 20.92, a PEG ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 12 month low of $67.05 and a 12 month high of $107.60. The stock’s 50 day moving average is $86.24 and its two-hundred day moving average is $93.42. 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 (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the 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 $2,984,424.80. This represents a 11.88 % 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 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AKAM. Susquehanna cut their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price for the company. Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.55.

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.