APG Asset Management N.V. Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

APG Asset Management N.V. cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 517,755 shares of the technology infrastructure company’s stock after selling 20,660 shares during the period. APG Asset Management N.V.’s holdings in Akamai Technologies were worth $43,517,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AKAM. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc grew its stake in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new position in Akamai Technologies in the second quarter valued at $28,000. Family Firm Inc. acquired a new stake in Akamai Technologies in the second quarter valued at $35,000. Finally, Covestor Ltd lifted its holdings in Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AKAM shares. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research report on Wednesday, July 24th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. TD Cowen increased their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $101.57 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $98.55 and a 200-day simple moving average of $98.10. 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 $15.39 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68.

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

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last 90 days. Company insiders own 1.80% of the company’s stock.

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.