Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 58,396 shares of the technology infrastructure company’s stock after selling 16,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Akamai Technologies were worth $5,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AKAM. Farther Finance Advisors LLC lifted its holdings in shares of Akamai Technologies by 85.7% in the 3rd 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 last quarter. 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 valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies in the 4th quarter valued at about $57,000. Principal Securities Inc. increased its position in Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after acquiring an additional 174 shares during the period. Finally, Covestor Ltd increased its position in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Citigroup dropped their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $107.55.

Akamai Technologies Stock Performance

AKAM opened at $78.05 on Wednesday. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $113.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $95.37 and its 200 day simple moving average is $97.67. The stock has a market cap of $11.73 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last posted its 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.