Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV significantly increased its position in Akamai Technologies by 94.5%, acquiring a total of 24,282 shares valued at approximately $1.95 million.
• Several large investors, including First Trust Advisors LP and GAMMA Investing LLC, also boosted their stakes in Akamai Technologies, indicating a trend of institutional interest in the company.
• Akamai Technologies received mixed analyst ratings, with Morgan Stanley and KeyCorp downgrading their ratings, while UBS Group increased its price target for the stock.

ING Groep NV increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 94.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,282 shares of the technology infrastructure company's stock after acquiring an additional 11,795 shares during the period. ING Groep NV's holdings in Akamai Technologies were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in 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 purchasing an additional 155 shares during the period. Itau Unibanco Holding S.A. grew its holdings in 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 during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Akamai Technologies in the first quarter valued at approximately $49,000. LRI Investments LLC grew its holdings in Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after purchasing an additional 520 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in Akamai Technologies in the first quarter valued at approximately $65,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total value of $388,700.00. Following the completion of the sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies 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 completion of the sale, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was 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.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley lowered Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a report on Tuesday, August 5th. UBS Group raised their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Piper Sandler decreased their target price on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research report on Friday. Raymond James Financial decreased their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Scotiabank decreased their target price on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $96.44.

Akamai Technologies Trading Down 5.7%

Akamai Technologies stock traded down $4.23 during trading on Friday, reaching $70.53. 5,400,278 shares of the company were exchanged, compared to its average volume of 1,658,531. The stock's 50 day simple moving average is $78.12 and its two-hundred day simple moving average is $81.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $10.31 billion, a P/E ratio of 25.01, a PEG ratio of 2.23 and a beta of 0.76. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.05% and a net margin of 10.40%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.