Personal CFO Solutions LLC Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Personal CFO Solutions LLC raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 40.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,109 shares of the technology infrastructure company’s stock after buying an additional 892 shares during the period. Personal CFO Solutions LLC’s holdings in Akamai Technologies were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AKAM. National Pension Service increased its stake in shares of Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Akamai Technologies by 20.0% during the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Akamai Technologies during the third quarter worth $13,313,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 3.9 %

NASDAQ:AKAM opened at $84.15 on Tuesday. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $111.79. The stock has a market capitalization of $12.65 billion, a P/E ratio of 25.81, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company’s 50-day simple moving average is $92.83 and its 200-day simple moving average is $96.48.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now owns 34,510 shares of the company’s stock, valued at $2,984,424.80. This trade represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock worth $3,759,934 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of research reports. Citigroup dropped their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.55.

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.