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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Banque Cantonale Vaudoise lifted its holdings in shares of Akamai Technologies by 86.9% during the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. boosted its holdings in Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. Van ECK Associates Corp raised its stake in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after buying an additional 910 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Up 2.0 %

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

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Susquehanna cut their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Citigroup cut their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday. Robert W. Baird reduced their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Raymond James reduced their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.