Sterling Capital Management LLC Acquires 8,893 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sterling Capital Management LLC grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,474 shares of the technology infrastructure company's stock after buying an additional 8,893 shares during the period. Sterling Capital Management LLC owned 0.19% of Akamai Technologies worth $27,306,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AKAM. Oak Associates Ltd. OH raised its position in shares of Akamai Technologies by 4.5% in the fourth quarter. Oak Associates Ltd. OH now owns 152,694 shares of the technology infrastructure company's stock valued at $14,605,000 after purchasing an additional 6,645 shares during the period. Paralel Advisors LLC boosted its holdings in shares of Akamai Technologies by 10.0% during the fourth quarter. Paralel Advisors LLC now owns 23,078 shares of the technology infrastructure company's stock worth $2,207,000 after acquiring an additional 2,096 shares during the period. APG Asset Management N.V. grew its position in shares of Akamai Technologies by 46.2% in the fourth quarter. APG Asset Management N.V. now owns 238,658 shares of the technology infrastructure company's stock valued at $22,045,000 after purchasing an additional 75,438 shares during the last quarter. Greenland Capital Management LP bought a new position in shares of Akamai Technologies during the fourth quarter worth approximately $253,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Akamai Technologies by 6.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company's stock worth $57,670,000 after purchasing an additional 37,673 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AKAM has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price on the stock. Craig Hallum downgraded Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. Finally, Raymond James dropped their price objective on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $104.75.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the transaction, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares of the company's stock, valued at approximately $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,394 shares of company stock valued at $2,653,043. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Trading Down 0.6 %

Shares of AKAM stock traded down $0.43 during mid-day trading on Wednesday, reaching $74.08. 660,508 shares of the stock traded hands, compared to its average volume of 1,913,600. The stock's fifty day simple moving average is $83.21 and its two-hundred day simple moving average is $92.38. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.