Lansforsakringar Fondforvaltning AB publ Makes New $3.45 Million Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 36,012 shares of the technology infrastructure company's stock, valued at approximately $3,445,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its position 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 during the period. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $49,000. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $57,000. LRI Investments LLC raised its position in shares of 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, TCTC Holdings LLC raised its position in shares of 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 period. Institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AKAM. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective on the stock. in a research note on Friday, February 21st. Finally, Susquehanna lowered their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.26.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded up $0.92 on Tuesday, hitting $77.09. The stock had a trading volume of 2,046,266 shares, compared to its average volume of 2,006,510. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm's 50 day moving average price is $77.15 and its 200-day moving average price is $86.93. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In related news, EVP Mani Sundaram sold 10,683 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. This represents a 30.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Karon sold 5,628 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.20, for a total transaction of $485,133.60. Following the transaction, the chief operating officer now owns 24,597 shares in the company, valued at approximately $2,120,261.40. This trade represents a 18.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,047 shares of company stock worth $3,473,559. Corporate insiders own 2.00% of the company's stock.

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.