DnB Asset Management AS Purchases 3,382 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

DnB Asset Management AS raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,418 shares of the technology infrastructure company’s stock after purchasing an additional 3,382 shares during the quarter. DnB Asset Management AS’s holdings in Akamai Technologies were worth $2,814,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Akamai Technologies in the 4th quarter valued at approximately $49,000. Van ECK Associates Corp raised its stake in shares of Akamai Technologies by 49.6% during the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after acquiring an additional 910 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of 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. Cascade Investment Advisors Inc. bought a new stake in shares of Akamai Technologies in the fourth quarter worth $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the fourth quarter valued at $617,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. The trade was a 30.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AKAM shares. JPMorgan Chase & Co. reduced their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Finally, Craig Hallum cut shares of 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $80.50 on Tuesday. The stock’s 50 day moving average is $89.48 and its 200-day moving average is $94.57. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $109.98. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.74 and a beta of 0.68.

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

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.