Nomura Asset Management Co. Ltd. Purchases 357 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Nomura Asset Management Co. Ltd. grew its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,592 shares of the technology infrastructure company’s stock after buying an additional 357 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $4,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Akamai Technologies during the fourth quarter worth $477,454,000. Geode Capital Management LLC raised its stake in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after buying an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after buying an additional 88,732 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Raymond James lowered their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Scotiabank decreased their price objective on 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies Trading Up 0.1 %

NASDAQ AKAM opened at $80.60 on Wednesday. The firm has a market capitalization of $12.12 billion, a PE ratio of 24.72, a P/E/G ratio of 2.74 and a beta of 0.68. The stock’s 50 day moving average is $89.20 and its 200 day moving average is $94.44. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $108.74. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

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

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 23,988 shares in the company, valued at approximately $2,075,441.76. This represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.