APG Asset Management N.V. Buys 75,438 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

APG Asset Management N.V. increased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 46.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,658 shares of the technology infrastructure company’s stock after purchasing an additional 75,438 shares during the period. APG Asset Management N.V. owned approximately 0.16% of Akamai Technologies worth $22,045,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Greenland Capital Management LP purchased a new stake in Akamai Technologies in the 4th quarter worth $253,000. Envestnet Asset Management Inc. increased its stake in Akamai Technologies by 6.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company’s stock worth $57,670,000 after buying an additional 37,673 shares in the last quarter. Aviva PLC increased its stake in Akamai Technologies by 1.5% in the 4th quarter. Aviva PLC now owns 90,392 shares of the technology infrastructure company’s stock worth $8,646,000 after buying an additional 1,360 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Akamai Technologies in the 4th quarter worth $6,021,000. Finally, Integrated Quantitative Investments LLC purchased a new stake in Akamai Technologies in the 4th quarter worth $381,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target for the company. Piper Sandler cut their price objective on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James cut their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Scotiabank cut their price objective on 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. Finally, Evercore ISI restated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.55.

Akamai Technologies Stock Up 11.9 %

Shares of NASDAQ AKAM opened at $76.35 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a market cap of $11.16 billion, a P/E ratio of 23.42, a PEG ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $107.12. The firm has a 50-day simple moving average of $85.27 and a two-hundred day simple moving average of $93.13.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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%. Research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction that occurred on Monday, March 10th. The shares were 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 approximately $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,394 shares of company stock valued at $3,019,323. 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.