Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Mn Services Vermogensbeheer B.V.

Posted by Defense World Staff on Jul 14th, 2023

Mn Services Vermogensbeheer B.V. grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,908 shares of the technology infrastructure company’s stock after acquiring an additional 1,800 shares during the period. Mn Services Vermogensbeheer B.V. owned about 0.05% of Akamai Technologies worth $6,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AKAM. Vanguard Group Inc. raised its position in Akamai Technologies by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares during the period. Geode Capital Management LLC raised its holdings in shares of Akamai Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 3,502,193 shares of the technology infrastructure company’s stock valued at $294,885,000 after buying an additional 42,525 shares during the period. Legal & General Group Plc lifted its position in Akamai Technologies by 5.7% during the 4th quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock worth $229,628,000 after acquiring an additional 147,339 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Akamai Technologies by 3.0% in the 4th quarter. Mackenzie Financial Corp now owns 2,217,918 shares of the technology infrastructure company’s stock worth $186,970,000 after acquiring an additional 64,041 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Akamai Technologies by 84.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,310,113 shares of the technology infrastructure company’s stock worth $110,443,000 after acquiring an additional 599,089 shares during the period. Institutional investors and hedge funds own 90.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on AKAM shares. Piper Sandler raised shares of Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 target price on the stock in a research report on Monday, April 10th. StockNews.com started coverage on Akamai Technologies in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Robert W. Baird increased their price target on Akamai Technologies from $89.00 to $94.00 in a report on Friday, May 12th. Piper Jaffray Companies upgraded Akamai Technologies to an “overweight” rating and set a $93.00 price objective on the stock in a report on Tuesday, April 11th. Finally, Evercore ISI increased their target price on Akamai Technologies from $100.00 to $105.00 in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Insider Activity

In other news, CEO F Thomson Leighton acquired 303 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were acquired at an average price of $82.54 per share, with a total value of $25,009.62. Following the acquisition, the chief executive officer now directly owns 80,720 shares in the company, valued at $6,662,628.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Akamai Technologies news, CEO F Thomson Leighton bought 303 shares of the business’s stock in a transaction on Monday, April 17th. The shares were purchased at an average price of $82.54 per share, with a total value of $25,009.62. Following the purchase, the chief executive officer now directly owns 80,720 shares of the company’s stock, valued at $6,662,628.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 3,530 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $85.53, for a total value of $301,920.90. Following the transaction, the executive vice president now owns 10,462 shares of the company’s stock, valued at approximately $894,814.86. The disclosure for this sale can be found here. Over the last quarter, insiders bought 6,416 shares of company stock valued at $550,738 and sold 19,778 shares valued at $1,772,908. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $93.03 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $89.32 and its two-hundred day moving average price is $83.88. Akamai Technologies, Inc. has a 52-week low of $70.65 and a 52-week high of $98.81. The stock has a market capitalization of $14.16 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.02 and a beta of 0.78.

Akamai Technologies (NASDAQ:AKAM – Get Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The technology infrastructure company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.08. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $912.13 million. Akamai Technologies had a return on equity of 14.63% and a net margin of 12.50%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.51 earnings per share for the current year.

Akamai Technologies Profile

(Free Report)

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.