PGGM Investments Sells 11,582 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

PGGM Investments lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 37.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,226 shares of the technology infrastructure company’s stock after selling 11,582 shares during the period. PGGM Investments’ holdings in Akamai Technologies were worth $1,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter worth $49,000. Banque Cantonale Vaudoise grew its stake 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 in the last quarter. Principal Financial Group Inc. increased its holdings in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after buying an additional 11,272 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after acquiring an additional 910 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, February 21st. Raymond James decreased their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Down 1.3 %

Shares of AKAM opened at $78.66 on Friday. The stock’s 50-day moving average price is $92.21 and its two-hundred day moving average price is $96.21. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.18. The company has a market capitalization of $11.82 billion, a PE ratio of 24.13, a PEG ratio of 2.74 and a beta of 0.68. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity

In other news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,176 shares of company stock valued at $3,759,934. 1.80% of the stock is currently owned by insiders.

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.