Xponance Inc. Has $2.28 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Xponance Inc. lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.5% in the fourth quarter, Holdings Channel reports. The firm owned 19,273 shares of the technology infrastructure company’s stock after selling 1,347 shares during the quarter. Xponance Inc.’s holdings in Akamai Technologies were worth $2,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp raised its stake in Akamai Technologies by 1.8% during the third quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock worth $223,554,000 after acquiring an additional 38,069 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in Akamai Technologies during the third quarter worth about $218,201,000. Northern Trust Corp raised its stake in Akamai Technologies by 3.0% during the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock worth $204,788,000 after acquiring an additional 56,782 shares in the last quarter. Earnest Partners LLC raised its stake in Akamai Technologies by 4.8% during the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock worth $190,981,000 after acquiring an additional 82,364 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Akamai Technologies by 22.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after acquiring an additional 228,200 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.27.

Insider Transactions at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders sold a total of 33,353 shares of company stock valued at $3,688,883 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $100.88 on Tuesday. The company has a market capitalization of $15.29 billion, a PE ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a 50 day simple moving average of $108.03 and a two-hundred day simple moving average of $112.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Research analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current 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.