UniSuper Management Pty Ltd Grows Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

UniSuper Management Pty Ltd raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 41,093 shares of the technology infrastructure company’s stock after buying an additional 2,410 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Akamai Technologies were worth $3,931,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its position in Akamai Technologies by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after buying an additional 115 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Akamai Technologies by 8.4% in the third quarter. Public Sector Pension Investment Board now owns 6,475 shares of the technology infrastructure company’s stock valued at $654,000 after acquiring an additional 500 shares during the period. Vinva Investment Management Ltd bought a new stake in shares of Akamai Technologies in the 3rd quarter worth about $327,000. Benjamin Edwards Inc. purchased a new position in shares of Akamai Technologies during the 3rd quarter worth about $579,000. Finally, Centiva Capital LP bought a new position in Akamai Technologies during the 3rd quarter valued at about $325,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $80.05 on Friday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $109.98. The stock has a market cap of $12.03 billion, a P/E ratio of 24.56, a PEG ratio of 2.74 and a beta of 0.68. The company has a 50-day moving average price of $89.69 and a 200 day moving average price of $94.70. 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 posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Sell-side analysts anticipate 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 Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton acquired 37,670 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. The trade was a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 over the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AKAM. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st. Raymond James reduced their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Citigroup cut their price target 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. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.55.

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.