Livforsakringsbolaget Skandia Omsesidigt Buys 271 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,534 shares of the technology infrastructure company’s stock after buying an additional 271 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $3,732,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AKAM. Ancora Advisors LLC grew 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 buying an additional 127 shares in the last quarter. Planned Solutions Inc. bought a new position in Akamai Technologies in the 4th quarter valued at $37,000. Headinvest LLC bought a new position in Akamai Technologies in the 3rd quarter valued at $40,000. Belpointe Asset Management LLC grew its stake in Akamai Technologies by 50.1% in the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Akamai Technologies in the 4th quarter valued at $43,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

AKAM traded down $0.99 during trading on Wednesday, reaching $100.34. 1,303,563 shares of the company were exchanged, compared to its average volume of 1,660,425. The company’s 50-day moving average is $110.14 and its two-hundred day moving average is $112.62. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 28.42, a P/E/G 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, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AKAM. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Piper Sandler upped their price objective 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 target on shares of Akamai Technologies in a research report on Wednesday, February 14th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price target on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.27.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now 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 accessible through this hyperlink. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now 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 accessible through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.