APG Asset Management N.V. Grows Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

APG Asset Management N.V. grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,658 shares of the technology infrastructure company’s stock after purchasing an additional 75,438 shares during the quarter. APG Asset Management N.V.’s holdings in Akamai Technologies were worth $22,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Centiva Capital LP purchased a new position in Akamai Technologies in the third quarter worth $325,000. Quantinno Capital Management LP grew its holdings in shares of Akamai Technologies by 20.9% during the third quarter. Quantinno Capital Management LP now owns 18,893 shares of the technology infrastructure company’s stock valued at $1,907,000 after buying an additional 3,264 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Akamai Technologies by 26.2% during the third quarter. EP Wealth Advisors LLC now owns 10,983 shares of the technology infrastructure company’s stock valued at $1,109,000 after buying an additional 2,278 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Akamai Technologies by 12.2% during the third quarter. iA Global Asset Management Inc. now owns 3,145 shares of the technology infrastructure company’s stock valued at $317,000 after buying an additional 341 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Akamai Technologies by 83.1% during the third quarter. National Bank of Canada FI now owns 77,443 shares of the technology infrastructure company’s stock valued at $7,818,000 after buying an additional 35,142 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 4,652 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. This represents a 11.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the company’s 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 sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last 90 days. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Citigroup dropped their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Oppenheimer initiated coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price objective on the stock. Evercore ISI reissued an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Raymond James decreased their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.55.

Akamai Technologies Trading Up 11.9 %

Shares of Akamai Technologies stock opened at $76.35 on Thursday. The firm has a 50-day simple moving average of $85.27 and a two-hundred day simple moving average of $93.13. The company has a market cap of $11.16 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $107.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM) last issued 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts predict 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.