Mutual of America Capital Management LLC Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mutual of America Capital Management LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,199 shares of the technology infrastructure company’s stock after selling 1,086 shares during the period. Mutual of America Capital Management LLC’s holdings in Akamai Technologies were worth $2,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. Jericho Capital Asset Management L.P. bought a new position in shares of Akamai Technologies during the 3rd quarter valued at $218,201,000. Norges Bank bought a new position in shares of Akamai Technologies during the 4th quarter valued at $77,273,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Akamai Technologies by 59.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock valued at $164,052,000 after purchasing an additional 785,055 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Akamai Technologies by 254.5% during the 1st quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock valued at $65,817,000 after purchasing an additional 613,612 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Akamai Technologies by 4,398.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock valued at $51,581,000 after purchasing an additional 422,434 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last 90 days. 1.80% of the stock is owned by company insiders.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $101.50 on Friday. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The company’s 50-day moving average is $108.58 and its 200 day moving average is $112.41. The stock has a market capitalization of $15.38 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.83 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter in the previous year, the company earned $1.01 earnings per share. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AKAM shares. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the company from $128.00 to $135.00 in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

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.