Pictet Asset Management Holding SA Increases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pictet Asset Management Holding SA lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,873 shares of the technology infrastructure company’s stock after purchasing an additional 9,798 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Akamai Technologies worth $8,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies during the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% during the fourth 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 in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $57,000. TCTC Holdings LLC lifted 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 worth $67,000 after acquiring an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after acquiring an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares of the company’s stock, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 5,628 shares of Akamai Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the transaction, the chief operating officer now owns 24,597 shares in the company, valued at $2,120,261.40. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $81.63 on Thursday. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $108.18. The company has a 50-day simple moving average of $88.93 and a 200-day simple moving average of $94.35. The company has a market cap of $12.27 billion, a PE ratio of 25.04, 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 (NASDAQ:AKAM) last announced its quarterly earnings data 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 net margin of 12.65% and a return on equity of 14.35%. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AKAM. UBS Group started coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Susquehanna lowered their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Citigroup reduced their price objective 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.