Handelsbanken Fonder AB Has $3.71 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Handelsbanken Fonder AB lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 46.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,734 shares of the technology infrastructure company’s stock after buying an additional 12,248 shares during the quarter. Handelsbanken Fonder AB’s holdings in Akamai Technologies were worth $3,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Bryn Mawr Capital Management LLC grew its position in Akamai Technologies by 395.3% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 40,288 shares of the technology infrastructure company’s stock valued at $3,854,000 after purchasing an additional 32,154 shares during the period. Alberta Investment Management Corp acquired a new stake in Akamai Technologies in the 4th quarter valued at $4,912,000. Kentucky Retirement Systems Insurance Trust Fund grew its position in Akamai Technologies by 41.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,338 shares of the technology infrastructure company’s stock valued at $606,000 after purchasing an additional 1,852 shares during the period. Venturi Wealth Management LLC grew its position in Akamai Technologies by 423.5% in the 4th quarter. Venturi Wealth Management LLC now owns 2,691 shares of the technology infrastructure company’s stock valued at $257,000 after purchasing an additional 2,177 shares during the period. Finally, D.A. Davidson & CO. grew its position in Akamai Technologies by 10.9% in the 4th quarter. D.A. Davidson & CO. now owns 9,822 shares of the technology infrastructure company’s stock valued at $939,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 21.7 %

Shares of Akamai Technologies stock opened at $76.73 on Monday. Akamai Technologies, Inc. has a 52-week low of $76.50 and a 52-week high of $113.36. The stock’s 50-day simple moving average is $96.15 and its 200 day simple moving average is $97.94. The stock has a market capitalization of $11.53 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

AKAM has been the subject of several research reports. Susquehanna reduced their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. Citigroup reduced their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $98.00 in a research report on Friday. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Friday. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. 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. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated 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 $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,782 shares of company stock worth $1,523,951. Company insiders own 1.80% 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.