Assenagon Asset Management S.A. Reduces Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Assenagon Asset Management S.A. cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 62.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,237 shares of the technology infrastructure company’s stock after selling 80,204 shares during the period. Assenagon Asset Management S.A.’s holdings in Akamai Technologies were worth $4,710,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Akamai Technologies by 5.1% during 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 in the last quarter. Empyrean Capital Partners LP bought a new stake in Akamai Technologies during the 2nd quarter valued at about $15,314,000. Distillate Capital Partners LLC bought a new stake in Akamai Technologies during the 2nd quarter valued at about $14,130,000. Retirement Systems of Alabama lifted its holdings in Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after buying an additional 139,760 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AKAM shares. Citigroup decreased their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday. UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Up 0.6 %

NASDAQ:AKAM opened at $91.01 on Tuesday. The company has a market cap of $13.67 billion, a PE ratio of 26.93, a P/E/G ratio of 3.17 and a beta of 0.64. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $94.02 and its two-hundred day moving average is $97.37.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,282 shares of company stock valued at $2,099,996. Insiders own 2.00% of the company’s stock.

About Akamai Technologies

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.