Tredje AP fonden Buys 144,823 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tredje AP fonden raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 580.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 169,777 shares of the technology infrastructure company’s stock after purchasing an additional 144,823 shares during the period. Tredje AP fonden’s holdings in Akamai Technologies were worth $16,239,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AKAM. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Van ECK Associates Corp grew its holdings in Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the period. Principal Financial Group Inc. grew its holdings in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares during the period. Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Akamai Technologies by 23.7% during the third quarter. Crossmark Global Holdings Inc. now owns 11,710 shares of the technology infrastructure company’s stock valued at $1,182,000 after purchasing an additional 2,241 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at $1,146,097.11. This represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock valued at $3,759,934 in the last ninety days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $79.66 on Thursday. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.79. The business has a 50 day simple moving average of $92.21 and a 200-day simple moving average of $96.21. 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 (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on AKAM shares. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Raymond James cut their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Citigroup cut their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Finally, Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the 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 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.