LGT Fund Management Co Ltd. Cuts Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Fund Management Co Ltd. decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,679 shares of the technology infrastructure company’s stock after selling 1,220 shares during the period. LGT Fund Management Co Ltd.’s holdings in Akamai Technologies were worth $352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AKAM. Empirical Finance LLC lifted its position in Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp raised its holdings in shares of Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after buying an additional 105 shares during the period. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. grew its stake in Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after purchasing an additional 115 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the subject of a number of analyst reports. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Friday, February 21st. Susquehanna cut their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Finally, Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $107.55.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’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 $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.4 %

NASDAQ:AKAM opened at $81.00 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. 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 firm has a market capitalization of $12.18 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.74 and a beta of 0.65. The stock’s fifty day simple moving average is $94.13 and its 200-day simple moving average is $97.10.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly 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 firm had revenue of $1.02 billion during 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%. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.