Swiss National Bank Has $52.16 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Swiss National Bank lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 13.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,600 shares of the technology infrastructure company’s stock after selling 74,900 shares during the quarter. Swiss National Bank owned 0.32% of Akamai Technologies worth $52,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. Ancora Advisors LLC boosted its holdings in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new position in Akamai Technologies during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV boosted its holdings in Akamai Technologies by 178.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 401 shares of the technology infrastructure company’s stock worth $36,000 after purchasing an additional 257 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Akamai Technologies by 50.1% during the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after purchasing an additional 170 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in Akamai Technologies by 524.7% during the first quarter. Dark Forest Capital Management LP now owns 556 shares of the technology infrastructure company’s stock worth $44,000 after purchasing an additional 467 shares during the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.

Insider Activity

In other news, Director Madhu Ranganathan sold 3,386 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $110.65, for a total value of $374,660.90. Following the completion of the transaction, the director now directly owns 5,356 shares in the company, valued at approximately $592,641.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Madhu Ranganathan sold 3,386 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $110.65, for a total transaction of $374,660.90. Following the sale, the director now directly owns 5,356 shares of the company’s stock, valued at approximately $592,641.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $112.50, for a total transaction of $450,000.00. Following the sale, the executive vice president now directly owns 24,065 shares in the company, valued at $2,707,312.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,522 shares of company stock worth $2,800,825. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $125.57 on Thursday. The firm has a 50 day moving average of $119.09 and a 200-day moving average of $109.83. The stock has a market capitalization of $18.94 billion, a PE ratio of 37.82, a PEG ratio of 3.13 and a beta of 0.76. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.82. Akamai Technologies, Inc. has a 12 month low of $70.65 and a 12 month high of $125.90.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last issued its earnings results on Tuesday, November 7th. The technology infrastructure company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.17). The firm had revenue of $965.48 million during the quarter, compared to analyst estimates of $944.57 million. Akamai Technologies had a net margin of 13.76% and a return on equity of 14.54%. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AKAM. Susquehanna began coverage on shares of Akamai Technologies in a research note on Friday, December 15th. They issued a “positive” rating and a $150.00 price target for the company. Guggenheim upgraded shares of Akamai Technologies from a “sell” rating to a “neutral” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. increased their price target on shares of Akamai Technologies from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Wednesday, November 8th. Royal Bank of Canada increased their price target on shares of Akamai Technologies from $97.00 to $115.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley increased their price target on shares of Akamai Technologies from $102.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.11.

Check Out Our Latest Research Report on AKAM

About Akamai Technologies

(Free Report)

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.

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

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