DnB Asset Management AS Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

DnB Asset Management AS increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,418 shares of the technology infrastructure company’s stock after buying an additional 3,382 shares during the period. DnB Asset Management AS’s holdings in Akamai Technologies were worth $2,814,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC lifted its stake in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Akamai Technologies during the fourth quarter valued at $57,000. TCTC Holdings LLC increased its position in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after buying an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after buying an additional 656 shares during the period. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $80.50 on Tuesday. The company’s fifty day moving average price is $89.48 and its 200-day moving average price is $94.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $109.98.

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 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 the consensus estimate of $1.02 billion. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Susquehanna cut their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Oppenheimer initiated coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.55.

Insider Activity at Akamai Technologies

In other news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. The trade was a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,394 shares of company stock valued at $3,019,323. Corporate insiders own 1.80% of the company’s stock.

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.