Assenagon Asset Management S.A. Has $680,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Assenagon Asset Management S.A. trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 82.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,448 shares of the technology infrastructure company's stock after selling 40,789 shares during the period. Assenagon Asset Management S.A.'s holdings in Akamai Technologies were worth $680,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC boosted its stake 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 worth $67,000 after acquiring an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock valued at $1,912,000 after purchasing an additional 114 shares during the last quarter. Tandem Investment Advisors Inc. lifted its holdings in shares of Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock valued at $2,879,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp boosted its position in shares of Akamai Technologies by 1.2% in the 4th quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company's stock valued at $1,161,000 after purchasing an additional 142 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Down 0.4%

NASDAQ:AKAM traded down $0.32 during mid-day trading on Friday, reaching $78.38. The stock had a trading volume of 4,756,158 shares, compared to its average volume of 2,051,099. The stock has a market cap of $11.46 billion, a P/E ratio of 26.39, a PEG ratio of 2.47 and a beta of 0.77. The business's 50 day moving average is $77.80 and its 200 day moving average is $85.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on AKAM shares. Piper Sandler reaffirmed a "neutral" rating and set a $88.00 price objective (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley decreased their price objective 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. KeyCorp assumed coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 target price on the stock. Finally, Oppenheimer started coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $101.25.

Insider Transactions at Akamai Technologies

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

Akamai Technologies 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.