Handelsbanken Fonder AB Sells 24,787 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Handelsbanken Fonder AB decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 50.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,112 shares of the technology infrastructure company’s stock after selling 24,787 shares during the quarter. Handelsbanken Fonder AB’s holdings in Akamai Technologies were worth $2,854,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Planned Solutions Inc. bought a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $37,000. Headinvest LLC bought a new position in Akamai Technologies in the third quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC bought a new position in Akamai Technologies in the fourth quarter worth approximately $43,000. Bruce G. Allen Investments LLC bought a new position in Akamai Technologies in the fourth quarter worth approximately $44,000. Finally, Lindbrook Capital LLC grew its stake in Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Piper Sandler increased their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.60.

Insider Buying and Selling

In related news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 in the last 90 days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $101.68 on Friday. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The stock has a fifty day moving average price of $106.97 and a 200-day moving average price of $112.27. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market cap of $15.41 billion, a PE ratio of 28.80, a P/E/G ratio of 2.89 and a beta of 0.72.

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

About Akamai Technologies

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.