Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 24.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,034 shares of the technology infrastructure company's stock after purchasing an additional 7,300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Akamai Technologies were worth $2,980,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $49,000. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $57,000. Finally, LRI Investments LLC raised its stake in shares of 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 in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on AKAM shares. Royal Bank of Canada dropped their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. KeyCorp started coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 target price on the stock. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and dropped their target price for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Morgan Stanley dropped 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 report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.25.

Akamai Technologies Stock Performance

Shares of AKAM traded down $1.48 during trading hours on Friday, hitting $77.03. The stock had a trading volume of 1,859,071 shares, compared to its average volume of 2,024,241. 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 has a 50-day moving average price of $77.26 and a 200 day moving average price of $86.24. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.74 and a beta of 0.77.

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

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the company'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 directly owns 10,809 shares in the company, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president now owns 43,575 shares of the company's stock, valued at $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. 2.00% of the stock is currently owned by company insiders.

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.