Allianz SE Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Allianz SE acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,500 shares of the technology infrastructure company’s stock, valued at approximately $143,000.

Several other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC increased its stake in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring 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 raised its position 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake 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 worth $77,000 after purchasing an additional 656 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AKAM shares. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Citigroup decreased their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $125.00 to $98.00 in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $80.50 on Tuesday. The business has a 50 day moving average of $89.48 and a 200 day moving average of $94.57. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $109.98. The company has a market cap of $12.10 billion, a PE ratio of 24.69, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company 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%. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.