Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 54.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,900 shares of the technology infrastructure company’s stock after selling 66,200 shares during the quarter. Andra AP fonden’s holdings in Akamai Technologies were worth $5,035,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Akamai Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after acquiring an additional 124,359 shares during the period. Nordea Investment Management AB boosted its holdings in Akamai Technologies by 1.1% in the 1st quarter. Nordea Investment Management AB now owns 2,935,648 shares of the technology infrastructure company’s stock worth $319,751,000 after acquiring an additional 32,000 shares during the period. Norges Bank purchased a new position in Akamai Technologies in the 4th quarter worth approximately $325,242,000. Earnest Partners LLC boosted its holdings in Akamai Technologies by 7.6% in the 1st quarter. Earnest Partners LLC now owns 2,102,926 shares of the technology infrastructure company’s stock worth $228,714,000 after acquiring an additional 149,042 shares during the period. Finally, FIL Ltd boosted its holdings in Akamai Technologies by 14.5% in the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after acquiring an additional 186,124 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of a number of analyst reports. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Stock Performance

Shares of AKAM opened at $96.66 on Thursday. The business’s fifty day moving average price is $97.30 and its 200 day moving average price is $98.90. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The stock has a market capitalization of $14.72 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00. Following the transaction, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $617,475 over the last three months. Company insiders own 1.80% of the company’s stock.

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.