Gulf International Bank UK Ltd Has $1.32 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Gulf International Bank UK Ltd raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.9% in the 4th quarter, HoldingsChannel reports. The fund owned 13,802 shares of the technology infrastructure company’s stock after buying an additional 1,791 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Akamai Technologies were worth $1,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Akamai Technologies by 5.1% in the 3rd 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 in the last quarter. Nordea Investment Management AB increased its position in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after acquiring an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after acquiring an additional 88,732 shares in the last quarter. Retirement Systems of Alabama increased its position in Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after acquiring an additional 74,373 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $80.68 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36. The firm’s 50 day moving average price is $94.44 and its two-hundred day moving average price is $97.25. The firm has a market cap of $12.13 billion, a P/E ratio of 24.75, a PEG ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

AKAM has been the subject of several analyst reports. 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 price target for the company. Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Scotiabank lowered their price target on shares of 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. Royal Bank of Canada lowered their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.