Akamai Technologies, Inc. (NASDAQ:AKAM) Holdings Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,673 shares of the technology infrastructure company’s stock after purchasing an additional 841 shares during the quarter. CIBC Asset Management Inc’s holdings in Akamai Technologies were worth $2,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its position in Akamai Technologies by 3.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,063 shares of the technology infrastructure company’s stock valued at $1,123,000 after purchasing an additional 384 shares during the period. Palouse Capital Management Inc. increased its position in Akamai Technologies by 94.9% in the fourth quarter. Palouse Capital Management Inc. now owns 24,209 shares of the technology infrastructure company’s stock worth $2,316,000 after buying an additional 11,790 shares during the period. Principal Securities Inc. lifted its stake in Akamai Technologies by 24.2% in the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after buying an additional 174 shares during the last quarter. Banque Pictet & Cie SA bought a new position in shares of Akamai Technologies during the fourth quarter worth about $4,734,000. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Akamai Technologies by 7.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 58,958 shares of the technology infrastructure company’s stock worth $5,717,000 after acquiring an additional 4,331 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AKAM shares. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $100.00 in a research note on Friday. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Susquehanna lowered their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $107.90.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $76.73 on Friday. Akamai Technologies, Inc. has a 1 year low of $76.50 and a 1 year high of $113.36. The business’s fifty day moving average is $96.15 and its two-hundred day moving average is $97.86. The stock has a market capitalization of $11.53 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.28 earnings per share for the current fiscal year.

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.