Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 21.6% in the 4th quarter, Holdings Channel reports. The firm owned 58,396 shares of the technology infrastructure company’s stock after selling 16,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Akamai Technologies were worth $5,586,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at about $57,000. Covestor Ltd grew its stake in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after acquiring an additional 174 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on AKAM. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $112.00 to $100.00 in a research note on Friday, February 21st. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, November 11th. Royal Bank of Canada lowered their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” 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 assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $78.05 on Wednesday. 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 firm’s 50-day moving average price is $95.37 and its two-hundred day moving average price is $97.67. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36. The stock has a market capitalization of $11.73 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued 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). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was 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 of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Company 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.