BI Asset Management Fondsmaeglerselskab A S Buys 10,683 Shares of Akamai Technologies, Inc. $AKAM

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 178.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,670 shares of the technology infrastructure company’s stock after purchasing an additional 10,683 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Akamai Technologies were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Akamai Technologies by 295.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 336 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 251 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after buying an additional 195 shares during the period. Wolff Wiese Magana LLC increased its position in shares of Akamai Technologies by 497.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 400 shares of the technology infrastructure company’s stock valued at $30,000 after buying an additional 333 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Akamai Technologies during the 3rd quarter worth $30,000. Finally, True Wealth Design LLC lifted its holdings in Akamai Technologies by 1,469.2% during the third quarter. True Wealth Design LLC now owns 408 shares of the technology infrastructure company’s stock worth $31,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HSBC raised their price target on Akamai Technologies from $130.00 to $134.00 in a research report on Monday, November 10th. TD Cowen lifted their price target on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Thursday, November 13th. Jefferies Financial Group cut shares of Akamai Technologies to an “underperform” rating in a report on Monday, December 15th. Citigroup raised their price objective on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Finally, Morgan Stanley raised shares of Akamai Technologies from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $83.00 to $115.00 in a research note on Monday, January 12th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Hold” and a consensus price target of $96.94.

Insider Activity

In related news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $97.00, for a total transaction of $339,500.00. Following the completion of the sale, the chief technology officer owned 18,074 shares of the company’s stock, valued at approximately $1,753,178. The trade was a 16.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 6,560 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $88.03, for a total transaction of $577,476.80. Following the completion of the transaction, the chief financial officer directly owned 16,442 shares in the company, valued at approximately $1,447,389.26. This represents a 28.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,818 shares of company stock valued at $2,589,254. 2.00% of the stock is owned by company insiders.

Akamai Technologies Trading Up 4.0%

Akamai Technologies stock opened at $95.12 on Monday. The stock has a 50-day simple moving average of $90.22 and a 200 day simple moving average of $82.34. The stock has a market capitalization of $13.68 billion, a P/E ratio of 27.89, a PEG ratio of 2.93 and a beta of 0.70. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $104.97.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.64 by $0.22. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.59 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.