Asset Management One Co. Ltd. Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Posted by Defense World Staff on Apr 30th, 2023

Asset Management One Co. Ltd. decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 65,753 shares of the technology infrastructure company’s stock after selling 3,799 shares during the period. Asset Management One Co. Ltd.’s holdings in Akamai Technologies were worth $5,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. lifted its stake in shares of Akamai Technologies by 33.4% during the fourth quarter. Whittier Trust Co. now owns 782 shares of the technology infrastructure company’s stock valued at $66,000 after buying an additional 196 shares during the period. Ballentine Partners LLC raised its stake in Akamai Technologies by 6.5% during the fourth quarter. Ballentine Partners LLC now owns 3,412 shares of the technology infrastructure company’s stock worth $288,000 after purchasing an additional 207 shares during the period. Nisa Investment Advisors LLC raised its stake in Akamai Technologies by 6.4% during the third quarter. Nisa Investment Advisors LLC now owns 106,716 shares of the technology infrastructure company’s stock worth $8,578,000 after purchasing an additional 6,452 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in Akamai Technologies by 0.3% during the third quarter. Chevy Chase Trust Holdings LLC now owns 97,063 shares of the technology infrastructure company’s stock worth $7,797,000 after purchasing an additional 253 shares during the period. Finally, AE Wealth Management LLC raised its stake in Akamai Technologies by 4.0% during the fourth quarter. AE Wealth Management LLC now owns 42,923 shares of the technology infrastructure company’s stock worth $3,618,000 after purchasing an additional 1,664 shares during the period. Hedge funds and other institutional investors own 90.41% of the company’s stock.

Akamai Technologies Price Performance

AKAM opened at $81.97 on Friday. The company has a fifty day simple moving average of $76.93 and a 200 day simple moving average of $83.62. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.91 and a beta of 0.81. Akamai Technologies, Inc. has a twelve month low of $70.65 and a twelve month high of $115.62. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The technology infrastructure company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $927.78 million during the quarter, compared to analyst estimates of $904.80 million. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. Equities research analysts expect that Akamai Technologies, Inc. will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton acquired 287 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was bought at an average cost of $87.36 per share, with a total value of $25,072.32. Following the acquisition, the chief executive officer now directly owns 9,549 shares in the company, valued at $834,200.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO F Thomson Leighton acquired 287 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was bought at an average cost of $87.36 per share, with a total value of $25,072.32. Following the acquisition, the chief executive officer now directly owns 9,549 shares in the company, valued at $834,200.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward J. Mcgowan sold 2,320 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $75.28, for a total transaction of $174,649.60. Following the completion of the transaction, the chief financial officer now owns 28,720 shares in the company, valued at $2,162,041.60. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 9,258 shares of company stock valued at $725,961 and sold 35,617 shares valued at $2,805,070. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AKAM shares. William Blair started coverage on shares of Akamai Technologies in a research note on Wednesday, April 19th. They set an “outperform” rating on the stock. Piper Sandler raised shares of Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 price target on the stock in a research note on Monday, April 10th. Piper Jaffray Companies raised shares of Akamai Technologies to an “overweight” rating and set a $93.00 price target on the stock in a research note on Tuesday, April 11th. Royal Bank of Canada downgraded shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $100.00 to $85.00 in a research note on Wednesday, February 15th. Finally, Loop Capital dropped their price objective on shares of Akamai Technologies from $91.00 to $79.00 and set a “hold” rating for the company in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.18.

Akamai Technologies 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.