35,387 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 35,387 shares of the technology infrastructure company's stock, valued at approximately $41,880,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Akamai Technologies by 1.4% during the first quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company's stock worth $2,134,716,000 after acquiring an additional 254,437 shares during the last quarter. Geode Capital Management LLC grew its position in Akamai Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,549,920 shares of the technology infrastructure company's stock worth $277,564,000 after purchasing an additional 47,727 shares during the last quarter. Legal & General Group Plc increased its stake in Akamai Technologies by 5.7% in the fourth quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company's stock valued at $229,628,000 after purchasing an additional 147,339 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Akamai Technologies by 3.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,217,918 shares of the technology infrastructure company's stock valued at $186,970,000 after buying an additional 64,041 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Akamai Technologies by 59.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company's stock worth $164,052,000 after buying an additional 785,055 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the transaction, the executive vice president now owns 20,065 shares of the company's stock, valued at $2,359,242.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total value of $470,320.00. Following the transaction, the executive vice president now directly owns 20,065 shares in the company, valued at approximately $2,359,242.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company's stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold 37,353 shares of company stock worth $4,159,203 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AKAM. HSBC downgraded Akamai Technologies from a "hold" rating to a "reduce" rating and reduced their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Susquehanna assumed coverage on shares of Akamai Technologies in a research report on Friday, December 15th. They issued a "positive" rating and a $150.00 price objective on the stock. Piper Sandler upped their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Finally, StockNews.com upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and an average target price of $119.50.

Akamai Technologies Price Performance

NASDAQ AKAM traded up $1.75 during mid-day trading on Tuesday, hitting $107.57. The stock had a trading volume of 1,233,404 shares, compared to its average volume of 1,697,907. The company has a 50 day simple moving average of $112.23 and a 200 day simple moving average of $112.75. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 3.00 and a beta of 0.72. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to analysts' expectations of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Equities analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS 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.