6,448 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,448 shares of the technology infrastructure company’s stock, valued at approximately $617,000.

A number of other institutional investors have also added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC increased its position in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the 4th quarter worth approximately $57,000. Jones Financial Companies Lllp increased its position in Akamai Technologies by 443.2% during the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares in the last quarter. Finally, Principal Securities Inc. increased its position in Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after purchasing an additional 174 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 35,394 shares of company stock valued at $3,019,323 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James decreased 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. Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $112.00 to $100.00 in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Stock Down 0.6 %

Shares of NASDAQ AKAM opened at $81.04 on Friday. The firm has a market cap of $12.18 billion, a PE ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.14. The company’s fifty day simple moving average is $90.58 and its 200 day simple moving average is $95.24. 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 (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.