CANADA LIFE ASSURANCE Co Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

CANADA LIFE ASSURANCE Co raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,214 shares of the technology infrastructure company's stock after acquiring an additional 25,440 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.28% of Akamai Technologies worth $40,656,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies during the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after buying an additional 155 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter valued at $57,000. TCTC Holdings LLC lifted its position in shares of Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after acquiring an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Akamai Technologies by 200.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after acquiring an additional 472 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. This represents a 30.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton purchased 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares of the company's stock, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 31,394 shares of company stock valued at $2,653,043. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $125.00 to $98.00 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 on the stock in a research note on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.75.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded up $2.81 during trading hours on Thursday, reaching $78.68. The stock had a trading volume of 646,943 shares, compared to its average volume of 1,923,883. The stock has a market cap of $11.50 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The stock has a 50 day simple moving average of $79.97 and a 200 day simple moving average of $91.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

About Akamai Technologies

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.