FORA Capital LLC Buys Shares of 30,222 Akamai Technologies, Inc. (NASDAQ:AKAM)

FORA Capital LLC acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,222 shares of the technology infrastructure company's stock, valued at approximately $2,891,000.

A number of other hedge funds have also recently made changes to their positions in AKAM. Norges Bank bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $477,454,000. First Trust Advisors LP raised its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after buying an additional 690,341 shares during the last quarter. National Pension Service raised its holdings in Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock valued at $30,504,000 after buying an additional 273,043 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock valued at $74,473,000 after buying an additional 235,394 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Akamai Technologies by 9.6% during the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after buying an additional 163,472 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Activity at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 37,670 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company's stock, valued at $10,929,676.36. This trade represents a 37.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares in the company, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,321 shares of company stock valued at $2,986,916. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AKAM shares. Citigroup lowered their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Scotiabank reduced their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Akamai Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $103.26.

Akamai Technologies Stock Down 10.5%

Shares of NASDAQ:AKAM traded down $8.93 during midday trading on Friday, reaching $76.51. The company's stock had a trading volume of 5,831,128 shares, compared to its average volume of 1,925,699. The firm has a 50 day moving average of $78.85 and a 200-day moving average of $89.26. The firm has a market capitalization of $11.18 billion, a P/E ratio of 23.47, a PEG ratio of 2.74 and a beta of 0.82. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. 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 released its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.