Assenagon Asset Management S.A. Has $16.75 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Assenagon Asset Management S.A. increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,557 shares of the technology infrastructure company’s stock after buying an additional 1,588 shares during the period. Assenagon Asset Management S.A. owned 0.09% of Akamai Technologies worth $16,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKAM. Ancora Advisors LLC raised its position in shares of Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Headinvest LLC acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $40,000. Belpointe Asset Management LLC raised its position in shares of Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after buying an additional 170 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $44,000. Finally, Dark Forest Capital Management LP raised its position in shares of Akamai Technologies by 524.7% in the first quarter. Dark Forest Capital Management LP now owns 556 shares of the technology infrastructure company’s stock valued at $44,000 after buying an additional 467 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AKAM shares. Susquehanna started coverage on shares of Akamai Technologies in a research note on Friday, December 15th. They issued a “positive” rating and a $150.00 price objective on the stock. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. KeyCorp lifted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $119.50.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $109.63 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a twelve month low of $75.88 and a twelve month high of $129.17. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 3.06 and a beta of 0.72. The company’s fifty day moving average is $114.98 and its 200 day moving average is $112.61.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Buying and Selling

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold a total of 37,353 shares of company stock valued at $4,159,203 over the last 90 days. 1.80% of the stock is owned by insiders.

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.