Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,315 shares of the technology infrastructure company’s stock after selling 1,334 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Akamai Technologies were worth $2,318,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Akamai Technologies during the 4th quarter valued at $325,242,000. Jericho Capital Asset Management L.P. acquired a new stake in Akamai Technologies during the 3rd quarter valued at $218,201,000. Earnest Partners LLC raised its stake in Akamai Technologies by 4.8% during the 3rd quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after purchasing an additional 82,364 shares during the period. FIL Ltd raised its stake in Akamai Technologies by 14.5% during the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after purchasing an additional 186,124 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Akamai Technologies by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,339,978 shares of the technology infrastructure company’s stock valued at $158,596,000 after purchasing an additional 146,778 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the sale, the director now directly owns 14,519 shares of the company’s stock, valued at $1,358,107.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 22,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 9,000 shares of company stock valued at $826,460. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AKAM. Morgan Stanley cut their target price on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Piper Sandler dropped their price target on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Friday, May 10th. StockNews.com downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Bank of America dropped their price target on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.00.

Akamai Technologies Stock Up 1.4 %

AKAM stock opened at $90.82 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The company has a 50-day moving average of $93.67 and a two-hundred day moving average of $106.57. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 4.32 and a beta of 0.67.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The firm had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.