Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lessened by Bridgewater Associates LP

Bridgewater Associates LP trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 53.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,577 shares of the technology infrastructure company's stock after selling 41,887 shares during the quarter. Bridgewater Associates LP's holdings in Akamai Technologies were worth $3,499,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at approximately $49,000. Van ECK Associates Corp increased its holdings in Akamai Technologies by 49.6% in the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after purchasing an additional 910 shares during the last quarter. Cascade Investment Advisors Inc. acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $827,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $617,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after purchasing an additional 29,888 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AKAM. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Piper Sandler dropped their price target on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley dropped 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. Finally, Citigroup dropped their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $104.75.

Akamai Technologies Price Performance

AKAM stock traded up $2.03 on Wednesday, reaching $75.70. 931,821 shares of the company's stock were exchanged, compared to its average volume of 1,920,588. The stock has a fifty day moving average of $80.46 and a 200-day moving average of $91.43. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The firm has a market cap of $11.06 billion, a PE ratio of 23.22, a P/E/G ratio of 2.74 and a beta of 0.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 4,652 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,394 shares of company stock worth $2,653,043. 1.80% of the stock is owned by company insiders.

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.