Handelsbanken Fonder AB Has $3.71 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Handelsbanken Fonder AB increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 46.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,734 shares of the technology infrastructure company’s stock after buying an additional 12,248 shares during the period. Handelsbanken Fonder AB’s holdings in Akamai Technologies were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in Akamai Technologies by 86.9% during the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. boosted its position in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. bought a new position in Akamai Technologies during the fourth quarter worth $827,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Trading Down 21.7 %

AKAM opened at $76.73 on Monday. Akamai Technologies, Inc. has a twelve month low of $76.50 and a twelve month high of $113.36. The company has a 50-day simple moving average of $96.15 and a 200 day simple moving average of $97.94. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. Analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $100.00 in a research report on Friday. Royal Bank of Canada reduced their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $125.00 to $98.00 in a research report on Friday. One 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 stock. According to data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $107.90.

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.