22,962 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Akamai Technologies, investing approximately $1.85 million for 22,962 shares.
• Akamai Technologies reported $1.73 earnings per share for the quarter, exceeding estimates and marking a 6.5% increase in quarterly revenue compared to the previous year.
• Major institutional investors now hold 94.28% of Akamai's stock, indicating significant institutional backing for the company.

ASR Vermogensbeheer N.V. purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,962 shares of the technology infrastructure company's stock, valued at approximately $1,848,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its stake in shares of Akamai Technologies by 54.8% in the first 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 last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Akamai Technologies by 99.6% in the fourth 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. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $49,000. LRI Investments LLC grew its holdings in Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in Akamai Technologies during the 1st quarter worth $65,000. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Trading Down 5.7%

Shares of AKAM stock traded down $4.23 during trading hours on Friday, hitting $70.53. 5,400,278 shares of the company's stock traded hands, compared to its average volume of 1,866,010. The stock's 50 day simple moving average is $78.12 and its 200 day simple moving average is $81.39. The stock has a market cap of $10.31 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The company has a quick ratio of 1.18, a current ratio of 2.31 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.58 earnings per share. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AKAM. Scotiabank decreased their price target on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a report on Friday. Piper Sandler decreased their price target on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a report on Friday. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target for the company. Raymond James Financial cut their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Morgan Stanley cut shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research report on Tuesday, August 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of "Hold" and a consensus target price of $96.44.

Insider Activity

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction on 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 owned 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares in the company, valued at $2,514,811.26. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.