BI Asset Management Fondsmaeglerselskab A S Has $569,000 Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

BI Asset Management Fondsmaeglerselskab A S cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,952 shares of the technology infrastructure company's stock after selling 6,939 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Akamai Technologies were worth $569,000 as of its most recent SEC filing.

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

Akamai Technologies Price Performance

Akamai Technologies stock traded up $0.56 during midday trading on Tuesday, reaching $80.74. The company's stock had a trading volume of 186,254 shares, compared to its average volume of 1,929,000. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11.80 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The business has a 50-day moving average price of $78.76 and a 200-day moving average price of $90.68.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for 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, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity

In other news, CEO F Thomson Leighton bought 37,670 shares of the company's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $79.58 per share, for a total transaction 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 trade represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,394 shares of company stock worth $2,653,043. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Craig Hallum downgraded Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Morgan Stanley decreased their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Piper Sandler reduced their target price on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $104.75.

Akamai Technologies Company Profile

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.