Intact Investment Management Inc. Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Intact Investment Management Inc. grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 55.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the technology infrastructure company’s stock after buying an additional 3,750 shares during the period. Intact Investment Management Inc.’s holdings in Akamai Technologies were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AKAM. National Pension Service lifted its holdings in shares of Akamai Technologies by 595.3% in the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Tredje AP fonden lifted its holdings in shares of Akamai Technologies by 580.4% in the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock valued at $16,239,000 after purchasing an additional 144,823 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after purchasing an additional 139,760 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AKAM. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Raymond James reduced their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. UBS Group assumed coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Royal Bank of Canada reduced their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Finally, Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $80.73 on Friday. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.74 and a beta of 0.68. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $91.62 and its two-hundred day moving average is $95.95. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.18.

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). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,176 shares of company stock worth $4,083,614 in the last quarter. 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.