Allianz SE Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Allianz SE purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,500 shares of the technology infrastructure company’s stock, valued at approximately $143,000.

Other large investors have also recently modified their holdings of the company. Allstate Corp purchased a new position in Akamai Technologies in the fourth quarter worth about $423,000. DnB Asset Management AS raised its holdings in Akamai Technologies by 13.0% in the 4th quarter. DnB Asset Management AS now owns 29,418 shares of the technology infrastructure company’s stock worth $2,814,000 after acquiring an additional 3,382 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after acquiring an additional 114 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Akamai Technologies by 11.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 92,873 shares of the technology infrastructure company’s stock valued at $8,883,000 after purchasing an additional 9,798 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Akamai Technologies by 0.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 46,592 shares of the technology infrastructure company’s stock worth $4,457,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AKAM shares. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. Susquehanna dropped their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. UBS Group started coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies Trading Up 0.6 %

Akamai Technologies stock opened at $80.50 on Tuesday. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $109.98. The firm has a 50 day moving average of $89.48 and a 200 day moving average of $94.57. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

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 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 5,628 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total value of $485,133.60. Following the transaction, the chief operating officer now directly owns 24,597 shares of the company’s stock, valued at approximately $2,120,261.40. The trade was a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company’s stock.

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.