Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Trimmed by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 22,803 shares of the technology infrastructure company’s stock after selling 1,654 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Akamai Technologies were worth $2,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the fourth quarter worth about $49,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after acquiring an additional 11,272 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after acquiring an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after acquiring an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $827,000. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 35,394 shares of company stock valued at $3,019,323. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AKAM. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $98.00 in a research note on Friday, February 21st. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Trading Down 0.5 %

NASDAQ:AKAM opened at $81.47 on Thursday. The stock’s 50-day moving average is $90.09 and its two-hundred day moving average is $94.90. 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 stock has a market cap of $12.25 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $110.14.

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