Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,639 shares of the technology infrastructure company's stock after acquiring an additional 21,499 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Akamai Technologies worth $20,901,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in Akamai Technologies by 97.4% in the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock valued at $99,000 after acquiring an additional 604 shares during the period. Amalgamated Bank increased its position in Akamai Technologies by 0.5% in the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. increased its position in Akamai Technologies by 2.9% in the 1st quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company's stock valued at $588,000 after acquiring an additional 208 shares during the period. Farther Finance Advisors LLC increased its position in Akamai Technologies by 595.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock valued at $130,000 after acquiring an additional 1,382 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Akamai Technologies by 2.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 60,508 shares of the technology infrastructure company's stock valued at $4,871,000 after acquiring an additional 1,550 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.
Insider Buying and Selling
In related news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the sale, the executive vice president owned 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were 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 in the company, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Akamai Technologies Price Performance
Shares of NASDAQ:AKAM traded down $0.01 during trading on Friday, hitting $74.26. 415,819 shares of the stock were exchanged, compared to its average volume of 2,416,656. The company has a fifty day moving average price of $77.85 and a two-hundred day moving average price of $80.92. The company has a market cap of $10.65 billion, a PE ratio of 26.32, a P/E/G ratio of 2.92 and a beta of 0.76. The company has a current ratio of 2.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. On average, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on AKAM. The Goldman Sachs Group started coverage on Akamai Technologies in a research report on Wednesday. They issued a "sell" rating and a $67.00 price target on the stock. Raymond James Financial dropped 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, August 8th. Morgan Stanley cut Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price on the stock. in a research report on Tuesday, August 5th. KeyCorp started coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 target price on the stock. Finally, UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of "Hold" and an average target price of $94.89.
View Our Latest Stock Report on AKAM
About Akamai Technologies
(
Free Report)
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.
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