ING Groep NV Trims Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

ING Groep NV decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 26.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,487 shares of the technology infrastructure company’s stock after selling 4,478 shares during the quarter. ING Groep NV’s holdings in Akamai Technologies were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in AKAM. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% during the fourth 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. Principal Securities Inc. raised its stake in Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after purchasing an additional 174 shares during the period. Covestor Ltd lifted its holdings in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Akamai Technologies in the 3rd quarter worth approximately $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday. Raymond James cut their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Susquehanna reduced their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.90.

Insider Activity at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,782 shares of company stock worth $1,523,951 over the last three months. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $76.73 on Monday. The firm has a market capitalization of $11.53 billion, a PE ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65. The stock’s fifty day moving average is $96.15 and its 200 day moving average is $97.94. Akamai Technologies, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $113.36. 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 issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.47% 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, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

About Akamai Technologies

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.