Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 50.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,112 shares of the technology infrastructure company's stock after selling 24,787 shares during the period. Handelsbanken Fonder AB's holdings in Akamai Technologies were worth $2,854,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Planned Solutions Inc. acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $44,000. Headinvest LLC acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company's stock worth $49,000 after purchasing an additional 125 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 0.1 %

Shares of Akamai Technologies stock traded down $0.11 during trading hours on Friday, reaching $101.68. 820,088 shares of the company were exchanged, compared to its average volume of 1,107,475. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17. The stock's fifty day moving average is $106.97 and its 200 day moving average is $112.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $15.41 billion, a PE ratio of 28.80, a PEG ratio of 2.87 and a beta of 0.72.

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

Wall Street Analyst Weigh In

AKAM has been the topic of several analyst reports. StockNews.com raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an "underweight" rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Piper Sandler lifted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an "overweight" rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird raised shares of Akamai Technologies from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.60.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company's stock, valued at $735,196.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Adam Karon sold 14,349 shares of the business's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the business's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares of the company's stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is currently owned by company insiders.

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.