Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 894 shares of the technology infrastructure company’s stock after purchasing an additional 174 shares during the quarter. Principal Securities Inc.’s holdings in Akamai Technologies were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AKAM. Geode Capital Management LLC boosted its holdings in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares during the period. Nordea Investment Management AB increased its holdings in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Akamai Technologies by 6.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after acquiring an additional 88,732 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 8.9% in the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after buying an additional 74,373 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related 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 value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AKAM shares. UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. Citigroup dropped their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James cut their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. One research 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 company. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Akamai Technologies Stock Up 2.0 %

Shares of NASDAQ:AKAM opened at $79.58 on Thursday. The company has a market capitalization of $11.96 billion, a PE ratio of 24.41, a PEG ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company has a 50 day moving average price of $95.08 and a two-hundred day moving average price of $97.55.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share 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.