Royal London Asset Management Ltd. Purchases 7,595 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Royal London Asset Management Ltd. grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,458 shares of the technology infrastructure company’s stock after acquiring an additional 7,595 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Akamai Technologies were worth $6,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AKAM. Geode Capital Management LLC increased its position in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after buying an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after buying an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock worth $88,213,000 after buying an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after buying an additional 74,373 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In related news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AKAM. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $81.04 on Monday. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $110.14. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $90.58 and a two-hundred day simple moving average of $95.21. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68.

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 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 during the quarter, compared to analysts’ expectations of $1.02 billion. On average, analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.