Vinva Investment Management Ltd Grows Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Vinva Investment Management Ltd raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 67.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,399 shares of the technology infrastructure company’s stock after purchasing an additional 2,182 shares during the quarter. Vinva Investment Management Ltd’s holdings in Akamai Technologies were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies during the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC lifted its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at about $57,000. TCTC Holdings LLC lifted its holdings in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 0.6 %

Shares of Akamai Technologies stock opened at $81.04 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68. The company’s 50 day moving average price is $90.58 and its 200-day moving average price is $95.28.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AKAM. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $112.00 to $100.00 in a research report on Friday, February 21st. Citigroup decreased their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 35,394 shares of company stock worth $3,019,323 over the last quarter. Corporate insiders own 1.80% 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.