Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 82.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,448 shares of the technology infrastructure company’s stock after selling 40,789 shares during the period. Assenagon Asset Management S.A.’s holdings in Akamai Technologies were worth $680,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AKAM. Norges Bank acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at about $477,454,000. First Trust Advisors LP increased its position in shares of Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after acquiring an additional 690,341 shares during the last quarter. National Pension Service increased its position in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after acquiring an additional 273,043 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Akamai Technologies by 5,951.4% during the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company’s stock valued at $20,445,000 after acquiring an additional 249,781 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock valued at $74,473,000 after acquiring an additional 235,394 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the sale, the executive vice president now owns 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 3,927 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the sale, the chief operating officer now owns 10,809 shares of the company’s stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Royal Bank Of Canada dropped their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Susquehanna dropped their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a report on Friday, February 21st. Finally, Scotiabank dropped their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.25.

Akamai Technologies Stock Up 0.0%

Shares of Akamai Technologies stock opened at $78.70 on Thursday. The company has a market capitalization of $11.51 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.48 and a beta of 0.77. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a 50 day moving average of $77.59 and a 200 day moving average of $85.93.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS 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.