Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,883 shares of the technology infrastructure company’s stock after purchasing an additional 1,557 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Akamai Technologies were worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Akamai Technologies in the fourth quarter worth about $477,454,000. Nordea Investment Management AB lifted its holdings in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after buying an additional 138,380 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock worth $88,213,000 after acquiring an additional 29,888 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after acquiring an additional 74,373 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Akamai Technologies by 6.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company’s stock valued at $57,670,000 after acquiring an additional 37,673 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $73.81 on Thursday. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The stock’s 50 day moving average price is $82.69 and its 200 day moving average price is $92.25.

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

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares in the company, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,394 shares of company stock worth $2,653,043. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AKAM shares. Royal Bank of Canada lowered their target price on shares of 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. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Morgan Stanley cut their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday. Susquehanna lowered their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Finally, Oppenheimer started coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.

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.