OVERSEA CHINESE BANKING Corp Ltd Has $911,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 31.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,698 shares of the technology infrastructure company’s stock after purchasing an additional 1,826 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Akamai Technologies were worth $911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AKAM. Jericho Capital Asset Management L.P. acquired a new position in Akamai Technologies during the third quarter valued at approximately $218,201,000. Norges Bank acquired a new position in shares of Akamai Technologies in the 4th quarter valued at approximately $77,273,000. Arrowstreet Capital Limited Partnership increased its stake in Akamai Technologies by 59.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock worth $164,052,000 after purchasing an additional 785,055 shares in the last quarter. AQR Capital Management LLC raised its holdings in Akamai Technologies by 254.5% during the 1st quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock worth $65,817,000 after buying an additional 613,612 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Akamai Technologies by 4,398.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock valued at $51,581,000 after buying an additional 422,434 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Piper Sandler lifted their price target on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $121.27.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $101.50 on Monday. The firm’s fifty day moving average price is $108.58 and its two-hundred day moving average price is $112.50. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17. The firm has a market capitalization of $15.38 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same period in the prior year, the firm earned $1.01 EPS. Akamai Technologies’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last 90 days. Company insiders own 1.80% of the company’s stock.

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.