Mitsubishi UFJ Asset Management Co. Ltd. Buys 15,303 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 157,617 shares of the technology infrastructure company's stock after acquiring an additional 15,303 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Akamai Technologies worth $18,332,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Jericho Capital Asset Management L.P. bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $218,201,000. Los Angeles Capital Management LLC increased its holdings in shares of Akamai Technologies by 123.8% in the third quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company's stock worth $78,439,000 after acquiring an additional 407,321 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Akamai Technologies by 40.7% during the 3rd quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company's stock worth $84,387,000 after buying an additional 228,529 shares during the period. Canada Pension Plan Investment Board lifted its position in Akamai Technologies by 22.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company's stock valued at $134,923,000 after acquiring an additional 228,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Akamai Technologies by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,339,978 shares of the technology infrastructure company's stock valued at $158,596,000 after purchasing an additional 146,778 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Price Performance

NASDAQ AKAM traded down $1.66 during trading on Friday, hitting $95.21. 2,429,966 shares of the stock traded hands, compared to its average volume of 1,751,869. The company has a market capitalization of $14.50 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 4.20 and a beta of 0.72. The firm has a 50-day simple moving average of $104.04 and a 200-day simple moving average of $111.60. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a 12-month low of $86.26 and a 12-month high of $129.17.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The firm had revenue of $986.97 million for the quarter, compared to analysts' expectations of $989.03 million. During the same period in the prior year, the business posted $1.01 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that Akamai Technologies, Inc. will post 4.79 EPS for the current year.

Akamai Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on AKAM. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $117.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, May 10th. Bank of America decreased their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, May 10th. Craig Hallum cut their price objective on shares of Akamai Technologies from $120.00 to $110.00 and set a "hold" rating for the company in a research report on Friday, May 10th. HSBC downgraded Akamai Technologies from a "hold" rating to a "reduce" rating and reduced their target price for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Finally, StockNews.com lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $114.00.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton acquired 22,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now owns 2,342,621 shares of the company's stock, valued at approximately $217,114,114.28. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Anthony P. Williams sold 4,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 14,938 shares of the company's stock, valued at approximately $1,624,208.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton bought 22,000 shares of the company's stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the transaction, the chief executive officer now owns 2,342,621 shares of the company's stock, valued at $217,114,114.28. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 32,243 shares of company stock valued at $3,441,153. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Company 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.