Korea Investment CORP Grows Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Korea Investment CORP raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 50.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,554 shares of the technology infrastructure company’s stock after buying an additional 13,000 shares during the period. Korea Investment CORP’s holdings in Akamai Technologies were worth $3,688,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the fourth quarter worth $49,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Akamai Technologies during the fourth quarter valued at about $57,000. TCTC Holdings LLC grew 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 buying an additional 102 shares during the period. Finally, Jones Financial Companies Lllp increased 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 worth $77,000 after buying an additional 656 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $80.60 on Wednesday. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $108.74. 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 stock has a market cap of $12.12 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The firm’s fifty day moving average price is $89.20 and its 200-day moving average price is $94.44.

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 for the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling 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 transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 over the last ninety days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AKAM shares. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Oppenheimer assumed coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price for the company. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.55.

About Akamai Technologies

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.