Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 50.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,112 shares of the technology infrastructure company’s stock after selling 24,787 shares during the period. Handelsbanken Fonder AB’s holdings in Akamai Technologies were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Planned Solutions Inc. acquired a new stake in Akamai Technologies during the fourth quarter valued at approximately $37,000. Headinvest LLC acquired a new stake in Akamai Technologies during the third quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies during the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies during the fourth quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC lifted its stake in Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after purchasing an additional 125 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

Shares of AKAM opened at $101.68 on Friday. The company’s fifty day moving average is $106.97 and its 200-day moving average is $112.27. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $999.09 million. During the same quarter in the prior year, the business posted $1.01 EPS. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AKAM shares. JPMorgan Chase & Co. boosted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. KeyCorp boosted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Piper Sandler boosted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $128.00 to $135.00 in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.60.

Insider Transactions at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock worth $3,688,883 in the last 90 days. 1.80% of the stock is owned by insiders.

About Akamai Technologies

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.