Mutual of America Capital Management LLC Has $2.39 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mutual of America Capital Management LLC trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,199 shares of the technology infrastructure company’s stock after selling 1,086 shares during the period. Mutual of America Capital Management LLC’s holdings in Akamai Technologies were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKAM. Jericho Capital Asset Management L.P. acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $218,201,000. Norges Bank acquired a new position in Akamai Technologies during the fourth quarter valued at approximately $77,273,000. Arrowstreet Capital Limited Partnership raised its position in Akamai Technologies by 59.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock valued at $164,052,000 after purchasing an additional 785,055 shares in the last quarter. AQR Capital Management LLC raised its position in Akamai Technologies by 254.5% during the first quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock valued at $65,817,000 after purchasing an additional 613,612 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Akamai Technologies by 4,398.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock valued at $51,581,000 after purchasing an additional 422,434 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock worth $3,688,883 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AKAM. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. KeyCorp boosted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Finally, Piper Sandler boosted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.27.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $101.50 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.83 and a beta of 0.72. The company’s fifty day moving average is $108.58 and its 200 day moving average is $112.41.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

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.