Allspring Global Investments Holdings LLC Sells 10,137 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Allspring Global Investments Holdings LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,649 shares of the technology infrastructure company’s stock after selling 10,137 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Akamai Technologies were worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AKAM. Jericho Capital Asset Management L.P. bought a new stake in shares of Akamai Technologies during the third quarter valued at approximately $218,201,000. Norges Bank bought a new stake in Akamai Technologies in the fourth quarter worth $77,273,000. Arrowstreet Capital Limited Partnership increased its position in Akamai Technologies by 59.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock worth $164,052,000 after purchasing an additional 785,055 shares during the last quarter. AQR Capital Management LLC increased its position in Akamai Technologies by 254.5% in the first quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock worth $65,817,000 after purchasing an additional 613,612 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Akamai Technologies by 4,398.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock worth $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 other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 over the last three months. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Stock Performance

AKAM stock opened at $101.50 on Friday. 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 business has a 50-day moving average price of $108.58 and a 200 day moving average price of $112.46. The company has a market capitalization of $15.38 billion, a P/E ratio of 28.75, a PEG ratio of 2.84 and a beta of 0.72. Akamai Technologies, Inc. has a 1-year low of $76.85 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.10. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Piper Sandler lifted their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp lifted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $121.27.

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.