Achmea Investment Management B.V. Invests $21.63 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Achmea Investment Management B.V. acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 268,640 shares of the technology infrastructure company's stock, valued at approximately $21,626,000. Achmea Investment Management B.V. owned 0.18% of Akamai Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after acquiring an additional 155 shares during the period. Itau Unibanco Holding S.A. increased its stake in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the fourth quarter worth $49,000. LRI Investments LLC boosted its position in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after purchasing an additional 520 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank dropped their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. UBS Group raised their price target on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen downgraded Akamai Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. KeyCorp began coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $101.25.

Insider Activity

In other news, COO Adam Karon sold 3,927 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares of the company's stock, valued at $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the sale, the executive vice president now directly owns 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $79.60 on Friday. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The firm has a market cap of $11.64 billion, a P/E ratio of 26.80, a PEG ratio of 2.51 and a beta of 0.77. The stock has a fifty day moving average price of $78.25 and a two-hundred day moving average price of $85.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.64 earnings per share. 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.

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