Mutual of America Capital Management LLC Has $1.72 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mutual of America Capital Management LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,994 shares of the technology infrastructure company’s stock after selling 663 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Akamai Technologies were worth $1,721,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Van ECK Associates Corp lifted its stake in Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after purchasing an additional 105 shares during the period. QRG Capital Management Inc. lifted its stake in Akamai Technologies by 4.3% during the third quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock worth $822,000 after purchasing an additional 335 shares during the period. Principal Financial Group Inc. lifted its stake in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares during the period. Finally, Covestor Ltd lifted its stake in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,896 shares of company stock valued at $2,872,496. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AKAM shares. JPMorgan Chase & Co. cut their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. 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 research note on Friday, February 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Price Performance

AKAM opened at $87.52 on Friday. The company has a fifty day moving average price of $93.06 and a two-hundred day moving average price of $96.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The firm has a market capitalization of $13.16 billion, a PE ratio of 26.85, a P/E/G ratio of 2.74 and a beta of 0.68.

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

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.