Todd Asset Management LLC Buys 4,363 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Todd Asset Management LLC increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 269,238 shares of the technology infrastructure company’s stock after acquiring an additional 4,363 shares during the period. Todd Asset Management LLC’s holdings in Akamai Technologies were worth $25,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of 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 valued at $423,066,000 after acquiring an additional 202,746 shares during the period. Retirement Systems of Alabama raised its position in 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 during the period. Nordea Investment Management AB lifted its stake in Akamai Technologies by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Akamai Technologies during the third quarter valued at approximately $13,313,000. Finally, Invenomic Capital Management LP grew its stake in shares of Akamai Technologies by 252.2% during the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock valued at $17,766,000 after buying an additional 126,021 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AKAM. JPMorgan Chase & Co. decreased their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $100.00 in a research note on Friday. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $98.00 in a research note on Friday. Raymond James decreased their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Stock Up 1.2 %

Shares of Akamai Technologies stock opened at $77.65 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $11.67 billion, a P/E ratio of 23.82, a PEG ratio of 2.74 and a beta of 0.65. The firm’s 50 day moving average price is $95.75 and its 200-day moving average price is $97.84. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 approximately $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 have sold a total of 15,782 shares of company stock worth $1,523,951 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.