Tredje AP fonden Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Tredje AP fonden lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,954 shares of the technology infrastructure company’s stock after selling 391 shares during the quarter. Tredje AP fonden’s holdings in Akamai Technologies were worth $2,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Akamai Technologies during the 1st quarter valued at about $31,000. Versant Capital Management Inc lifted its holdings in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new stake in Akamai Technologies in the 2nd quarter valued at about $28,000. Family Firm Inc. bought a new position in Akamai Technologies in the 2nd quarter worth about $35,000. Finally, Covestor Ltd increased its position in shares of Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 310 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AKAM shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Wednesday, July 24th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Piper Sandler lowered their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Stock Up 2.1 %

Shares of AKAM stock opened at $99.44 on Friday. The stock’s fifty day moving average price is $97.91 and its 200 day moving average price is $98.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is owned by corporate insiders.

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.