Nomura Asset Management Co. Ltd. Buys 357 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Nomura Asset Management Co. Ltd. raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,592 shares of the technology infrastructure company’s stock after acquiring an additional 357 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $4,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Norges Bank bought a new position in shares of Akamai Technologies in the 4th quarter worth approximately $477,454,000. National Pension Service raised its position in Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after acquiring an additional 273,043 shares during the period. Geode Capital Management LLC boosted its stake in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Tredje AP fonden grew its position in shares of Akamai Technologies by 580.4% during the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock valued at $16,239,000 after acquiring an additional 144,823 shares during the period. Finally, Retirement Systems of Alabama increased its stake in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after purchasing an additional 139,760 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 purchased 37,670 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on AKAM. Susquehanna decreased their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Raymond James dropped their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $80.60 on Wednesday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $108.74. The firm’s fifty day simple moving average is $89.20 and its two-hundred day simple moving average is $94.44. 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 firm has a market capitalization of $12.12 billion, a P/E ratio of 24.72, a P/E/G ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts forecast 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.