Gulf International Bank UK Ltd Has $1.21 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Gulf International Bank UK Ltd reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,011 shares of the technology infrastructure company’s stock after selling 607 shares during the period. Gulf International Bank UK Ltd’s holdings in Akamai Technologies were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after buying an additional 222,290 shares in the last quarter. Intech Investment Management LLC increased its holdings in Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after buying an additional 199,334 shares during the last quarter. Empyrean Capital Partners LP bought a new position in Akamai Technologies during the second quarter valued at approximately $15,314,000. Finally, Renaissance Technologies LLC lifted its stake in Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after acquiring an additional 162,700 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $89.37 on Friday. The firm’s 50 day moving average price is $100.87 and its two-hundred day moving average price is $97.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The stock has a market cap of $13.54 billion, a PE ratio of 22.12, a PEG ratio of 3.21 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. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. During the same period in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on AKAM. Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. 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. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.29.

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.