Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,777 shares of the technology infrastructure company’s stock after acquiring an additional 618 shares during the period. Principal Financial Group Inc.’s holdings in Akamai Technologies were worth $18,428,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AKAM. Ancora Advisors LLC boosted its holdings in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. CX Institutional purchased a new stake in Akamai Technologies in the 2nd quarter valued at approximately $28,000. Karlinski Andrew C purchased a new stake in Akamai Technologies in the 1st quarter valued at approximately $30,000. Larson Financial Group LLC purchased a new stake in Akamai Technologies in the 2nd quarter valued at approximately $41,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Akamai Technologies in the 1st quarter valued at approximately $72,000. Institutional investors and hedge funds own 92.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AKAM shares. Citigroup lowered their price objective on Akamai Technologies from $105.00 to $98.00 in a report on Wednesday, August 10th. Piper Sandler decreased their price target on Akamai Technologies to $93.00 in a research note on Tuesday, November 15th. Cowen decreased their price target on Akamai Technologies from $164.00 to $137.00 in a research note on Wednesday, November 9th. Cowen decreased their price target on Akamai Technologies from $164.00 to $137.00 in a research note on Wednesday, November 9th. Finally, Evercore ISI decreased their price target on Akamai Technologies to $105.00 in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $112.93.

Akamai Technologies Trading Up 0.9 %

Shares of Akamai Technologies stock opened at $91.73 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.25 and a quick ratio of 2.25. Akamai Technologies, Inc. has a 1 year low of $76.28 and a 1 year high of $123.25. The company has a market capitalization of $14.42 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.82 and a beta of 0.71. The business has a 50 day moving average price of $85.61 and a 200 day moving average price of $91.26.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The firm had revenue of $881.90 million during the quarter, compared to the consensus estimate of $875.99 million. During the same period in the previous year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 1,500 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the completion of the transaction, the executive vice president now directly owns 31,183 shares in the company, valued at approximately $2,519,274.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $92.92, for a total transaction of $464,600.00. Following the completion of the sale, the chief technology officer now directly owns 9,835 shares in the company, valued at approximately $913,868.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 1,500 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the sale, the executive vice president now owns 31,183 shares of the company’s stock, valued at $2,519,274.57. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Akamai Technologies Company Profile

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

Further Reading

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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