Achmea Investment Management B.V. Cuts Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Achmea Investment Management B.V. trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 44.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,511 shares of the technology infrastructure company’s stock after selling 18,261 shares during the quarter. Achmea Investment Management B.V.’s holdings in Akamai Technologies were worth $2,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AKAM. Norges Bank bought a new position in Akamai Technologies in the 4th quarter valued at $325,242,000. Champlain Investment Partners LLC boosted its holdings 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 worth $147,308,000 after buying an additional 222,290 shares during the last quarter. Intech Investment Management LLC grew its position in Akamai Technologies by 409.2% during the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after buying an additional 199,334 shares during the period. FIL Ltd grew its position in Akamai Technologies by 14.5% during the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after buying an additional 186,124 shares during the period. Finally, Earnest Partners LLC increased its holdings in Akamai Technologies by 7.6% during the first quarter. Earnest Partners LLC now owns 2,102,926 shares of the technology infrastructure company’s stock worth $228,714,000 after buying an additional 149,042 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The sale was disclosed in a filing with the SEC, which is available at 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 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. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AKAM. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Stock Up 1.3 %

AKAM opened at $98.53 on Friday. The firm has a market capitalization of $14.93 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a fifty day moving average price of $97.60 and a 200-day moving average price of $98.82. 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 posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS 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 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 business earned $1.01 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

About Akamai Technologies

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.