Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 242,938 shares of the technology infrastructure company’s stock after selling 866 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Akamai Technologies were worth $23,237,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies in the fourth quarter valued at $49,000. Bruce G. Allen Investments LLC increased its position in shares of Akamai Technologies by 38.8% during the 4th 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 during the last quarter. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies in the 4th quarter valued at about $57,000. TCTC Holdings LLC lifted its position in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after buying an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after buying an additional 656 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Friday, February 21st. UBS Group started coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Susquehanna lowered their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now owns 34,510 shares in the company, valued at $2,984,424.80. This trade represents a 11.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last ninety days. Insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Up 0.1 %

NASDAQ:AKAM opened at $81.56 on Friday. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.14. The stock has a market cap of $12.26 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.74 and a beta of 0.68. 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 50-day simple moving average of $89.91 and a 200-day simple moving average of $94.80.

Akamai Technologies (NASDAQ:AKAM) last announced 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 net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.