Ancora Advisors LLC Purchases 1,425 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ancora Advisors LLC lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 356.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,825 shares of the technology infrastructure company’s stock after acquiring an additional 1,425 shares during the period. Ancora Advisors LLC’s holdings in Akamai Technologies were worth $175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares during the last quarter. Norges Bank purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at $477,454,000. Earnest Partners LLC increased its holdings in Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock worth $211,935,000 after buying an additional 58,013 shares in the last quarter. Nordea Investment Management AB raised its position in Akamai Technologies by 6.9% in 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. Finally, Northern Trust Corp boosted its holdings in shares of Akamai Technologies by 9.6% during the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock valued at $178,085,000 after acquiring an additional 163,472 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly 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 have sold a total of 31,394 shares of company stock worth $2,653,043 in the last three months. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AKAM. Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price objective for the company. TD Cowen cut Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Citigroup lowered their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

Akamai Technologies Trading Down 0.2 %

Shares of Akamai Technologies stock opened at $82.92 on Wednesday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. 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 company has a market capitalization of $12.12 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.74 and a beta of 0.82. The company has a fifty day moving average of $78.83 and a 200 day moving average of $89.84.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results 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 analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.