Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 60,039 shares of the technology infrastructure company’s stock after buying an additional 210 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Akamai Technologies were worth $5,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise raised its stake in shares of Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after acquiring an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. raised its position in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Van ECK Associates Corp lifted its holdings in 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 during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AKAM. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $100.00 in a report on Friday, February 21st. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, February 21st. Finally, Scotiabank reduced their price target on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $80.68 on Friday. The firm has a 50-day simple moving average of $94.44 and a 200-day simple moving average of $97.25. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36.

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

Insider Activity at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.