UniSuper Management Pty Ltd Has $3.93 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

UniSuper Management Pty Ltd raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,093 shares of the technology infrastructure company’s stock after acquiring an additional 2,410 shares during the period. UniSuper Management Pty Ltd’s holdings in Akamai Technologies were worth $3,931,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC boosted its holdings in shares of 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 valued at $53,000 after acquiring an additional 155 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Akamai Technologies in the fourth quarter valued at about $57,000. TCTC Holdings LLC increased its stake in shares of 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 period. Finally, Jones Financial Companies Lllp boosted its position in Akamai Technologies by 443.2% during the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after buying an additional 656 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on AKAM. Royal Bank of Canada cut 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. Oppenheimer assumed coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $80.05 on Friday. The stock has a market cap of $12.03 billion, a PE ratio of 24.56, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $89.69 and its two-hundred day simple moving average is $94.70. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $109.98.

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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations 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 forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the transaction, the chief financial officer now directly owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,394 shares of company stock worth $3,019,323. Insiders own 2.00% of the company’s stock.

About Akamai Technologies

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.