Mirae Asset Global Investments Co. Ltd. Has $1.81 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,661 shares of the technology infrastructure company’s stock after purchasing an additional 2,489 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Akamai Technologies were worth $1,814,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies in the 4th quarter valued at about $49,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Akamai Technologies in the 4th quarter valued at about $617,000. Charles Schwab Investment Management Inc. boosted its holdings in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after purchasing an additional 29,888 shares during the period. Atria Investments Inc boosted its holdings in Akamai Technologies by 5.6% in the 4th quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company’s stock valued at $526,000 after purchasing an additional 293 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Akamai Technologies by 2.9% in the 1st quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company’s stock valued at $588,000 after purchasing an additional 208 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the transaction, the chief operating officer owned 10,809 shares of the company’s stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president directly owned 43,575 shares of the company’s stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

AKAM stock opened at $79.20 on Friday. The company has a 50 day simple moving average of $78.72 and a 200 day simple moving average of $84.48. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. Research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AKAM shares. Scotiabank cut their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Morgan Stanley cut their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Oppenheimer initiated coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target for the company. Finally, KeyCorp initiated coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an “underweight” rating and a $63.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Hold” and a consensus price target of $101.25.

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.