Livforsakringsbolaget Skandia Omsesidigt Has $2.94 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,763 shares of the technology infrastructure company’s stock after selling 3,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $77,273,000. Arrowstreet Capital Limited Partnership boosted its position in 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 valued at $164,052,000 after purchasing an additional 785,055 shares during the last quarter. First Trust Advisors LP grew its stake in Akamai Technologies by 21.8% in the first quarter. First Trust Advisors LP now owns 4,194,752 shares of the technology infrastructure company’s stock valued at $328,449,000 after purchasing an additional 749,933 shares in the last quarter. AQR Capital Management LLC increased its position in Akamai Technologies by 254.5% in the 1st quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock worth $65,817,000 after purchasing an additional 613,612 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Akamai Technologies by 4,398.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock worth $51,581,000 after purchasing an additional 422,434 shares in the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AKAM shares. Morgan Stanley upped their target price on Akamai Technologies from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Royal Bank of Canada upped their price target on Akamai Technologies from $85.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 9th. Piper Sandler increased their price objective on Akamai Technologies from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, August 25th. Bank of America assumed coverage on shares of Akamai Technologies in a research report on Thursday, September 7th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Citigroup raised their price objective on Akamai Technologies from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.41.

Akamai Technologies Stock Up 0.3 %

Shares of AKAM traded up $0.30 on Thursday, hitting $105.09. The company’s stock had a trading volume of 355,520 shares, compared to its average volume of 1,565,071. The firm’s fifty day moving average price is $98.33 and its 200-day moving average price is $88.25. Akamai Technologies, Inc. has a fifty-two week low of $70.65 and a fifty-two week high of $107.47. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.93 and a beta of 0.76.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, August 8th. The technology infrastructure company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). The company had revenue of $935.72 million for the quarter, compared to analyst estimates of $931.52 million. Akamai Technologies had a return on equity of 14.41% and a net margin of 12.64%. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.43 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 2,880 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $103.01, for a total transaction of $296,668.80. Following the transaction, the executive vice president now owns 7,582 shares of the company’s stock, valued at $781,021.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO F Thomson Leighton acquired 271 shares of Akamai Technologies stock in a transaction on Friday, June 16th. The shares were purchased at an average cost of $92.31 per share, for a total transaction of $25,016.01. Following the completion of the purchase, the chief executive officer now directly owns 91,731 shares of the company’s stock, valued at approximately $8,467,688.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anthony P. Williams sold 2,880 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $103.01, for a total value of $296,668.80. Following the sale, the executive vice president now owns 7,582 shares in the company, valued at approximately $781,021.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,850 shares of company stock valued at $2,948,488. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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.