Amalgamated Bank Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Amalgamated Bank boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,874 shares of the technology infrastructure company’s stock after purchasing an additional 6,239 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $5,548,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jericho Capital Asset Management L.P. bought a new stake in shares of Akamai Technologies during the third quarter valued at approximately $218,201,000. Los Angeles Capital Management LLC increased its holdings in Akamai Technologies by 123.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock valued at $78,439,000 after acquiring an additional 407,321 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Akamai Technologies by 40.7% in the 3rd quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock worth $84,387,000 after purchasing an additional 228,529 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Akamai Technologies by 22.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock valued at $134,923,000 after purchasing an additional 228,200 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Akamai Technologies by 17.6% during the third quarter. Retirement Systems of Alabama now owns 766,869 shares of the technology infrastructure company’s stock valued at $81,702,000 after purchasing an additional 114,777 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock worth $3,368,303 in the last 90 days. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 1.4 %

NASDAQ:AKAM opened at $101.08 on Tuesday. The stock has a fifty day simple moving average of $106.23 and a 200-day simple moving average of $112.09. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. Akamai Technologies, Inc. has a twelve month low of $78.35 and a twelve month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The company had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analysts Set New Price Targets

AKAM has been the subject of a number of research reports. Citigroup dropped their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Akamai Technologies 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.