Nuveen Asset Management LLC Has $42.98 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Posted by on Feb 27th, 2023

Nuveen Asset Management LLC cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,040 shares of the technology infrastructure company’s stock after selling 19,757 shares during the quarter. Nuveen Asset Management LLC owned 0.34% of Akamai Technologies worth $42,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Akamai Technologies by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after acquiring an additional 254,437 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Akamai Technologies by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 2,737,721 shares of the technology infrastructure company’s stock valued at $250,036,000 after acquiring an additional 149,461 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Akamai Technologies by 24.1% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,106,855 shares of the technology infrastructure company’s stock worth $192,419,000 after purchasing an additional 408,535 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Akamai Technologies by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,037,586 shares of the technology infrastructure company’s stock worth $83,344,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its stake in Akamai Technologies by 4.2% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,002,902 shares of the technology infrastructure company’s stock worth $80,553,000 after purchasing an additional 40,270 shares in the last quarter. 90.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

AKAM has been the subject of a number of research reports. Cowen lowered their target price on Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, February 15th. KeyCorp lowered their target price on Akamai Technologies from $116.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, November 9th. Raymond James decreased their price target on shares of Akamai Technologies from $115.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Robert W. Baird lowered their price objective on shares of Akamai Technologies to $90.00 in a report on Tuesday, November 15th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Monday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has a consensus rating of “Hold” and a consensus price target of $101.38.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the sale, the executive vice president now owns 28,306 shares of the company’s stock, valued at $2,689,070. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Adam Karon sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $90.00, for a total value of $945,000.00. Following the completion of the sale, the chief operating officer now owns 21,389 shares of the company’s stock, valued at $1,925,010. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $95.00, for a total transaction of $142,500.00. Following the completion of the sale, the executive vice president now directly owns 28,306 shares of the company’s stock, valued at approximately $2,689,070. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 6,134 shares of company stock valued at $525,856 and sold 17,363 shares valued at $1,558,367. Company insiders own 1.70% of the company’s stock.

Akamai Technologies Trading Down 3.2 %

AKAM stock opened at $72.71 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.41 and a quick ratio of 2.25. The company has a fifty day moving average price of $84.97 and a two-hundred day moving average price of $87.24. Akamai Technologies, Inc. has a one year low of $72.56 and a one year high of $123.25. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.74.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. The firm had revenue of $927.78 million during the quarter, compared to analysts’ expectations of $904.80 million. During the same period in the previous year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.32 EPS for the current year.

Akamai Technologies Company Profile

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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