30,375 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by APG Asset Management US Inc.

APG Asset Management US Inc. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 30,375 shares of the technology infrastructure company’s stock, valued at approximately $3,595,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in shares of Akamai Technologies by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 249,377 shares of the technology infrastructure company’s stock valued at $29,514,000 after acquiring an additional 2,740 shares during the period. Crestline Management LP acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $3,692,000. Eagle Asset Management Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $1,239,000. Alpha DNA Investment Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $973,000. Finally, Pingora Partners LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $1,776,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 1.5 %

NASDAQ:AKAM traded down $1.41 during trading hours on Monday, hitting $90.83. 225,881 shares of the company’s stock traded hands, compared to its average volume of 1,734,976. The firm has a market cap of $13.84 billion, a P/E ratio of 22.95, a P/E/G ratio of 4.33 and a beta of 0.69. Akamai Technologies, Inc. has a twelve month low of $86.94 and a twelve month high of $129.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The stock’s fifty day moving average price is $100.61 and its two-hundred day moving average price is $110.50.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last issued its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. The company had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, research analysts expect that Akamai Technologies, Inc. will post 4.47 earnings per share for the current fiscal year.

Akamai Technologies declared that its board has authorized a stock repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AKAM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, May 17th. TD Cowen decreased their price target on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a report on Friday, May 10th. Morgan Stanley decreased their price target on Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. KeyCorp decreased their price target on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $114.00.

Get Our Latest Analysis on Akamai Technologies

Insider Activity at Akamai Technologies

In related news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO F Thomson Leighton acquired 22,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the transaction, the chief executive officer now directly owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. Insiders sold a total of 33,243 shares of company stock worth $3,534,693 in the last 90 days. 2.00% of the stock is owned by company insiders.

Akamai Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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