Securian Asset Management Inc. Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Securian Asset Management Inc. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,030 shares of the technology infrastructure company’s stock after selling 205 shares during the period. Securian Asset Management Inc.’s holdings in Akamai Technologies were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its stake in shares of Akamai Technologies by 6.4% in the 4th quarter. Truvestments Capital LLC now owns 2,935 shares of the technology infrastructure company’s stock worth $281,000 after acquiring an additional 176 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of Akamai Technologies by 6.1% in the 4th quarter. Simplicity Wealth LLC now owns 11,292 shares of the technology infrastructure company’s stock worth $1,080,000 after acquiring an additional 646 shares during the last quarter. Pettee Investors Inc. acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $543,000. Personal CFO Solutions LLC increased its stake in shares of Akamai Technologies by 40.2% in the 4th quarter. Personal CFO Solutions LLC now owns 3,109 shares of the technology infrastructure company’s stock worth $297,000 after acquiring an additional 892 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $315,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AKAM. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Evercore ISI reissued an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Finally, Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Insider Activity

In related news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of the firm’s stock in a transaction that occurred 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 purchase, 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 disclosure for this purchase can be found here. In the last quarter, insiders sold 46,176 shares of company stock worth $4,083,614. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $80.73 on Friday. The stock has a 50-day simple moving average of $91.62 and a 200-day simple moving average of $95.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market capitalization of $12.14 billion, a PE ratio of 24.76, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18.

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 the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.