Sterling Capital Management LLC Boosts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sterling Capital Management LLC grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,474 shares of the technology infrastructure company’s stock after acquiring an additional 8,893 shares during the quarter. Sterling Capital Management LLC owned about 0.19% of Akamai Technologies worth $27,306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AKAM. Quantinno Capital Management LP boosted its stake in Akamai Technologies by 20.9% during the 3rd quarter. Quantinno Capital Management LP now owns 18,893 shares of the technology infrastructure company’s stock worth $1,907,000 after purchasing an additional 3,264 shares during the last quarter. National Bank of Canada FI raised its holdings in Akamai Technologies by 83.1% in the 3rd quarter. National Bank of Canada FI now owns 77,443 shares of the technology infrastructure company’s stock valued at $7,818,000 after acquiring an additional 35,142 shares during the last quarter. MML Investors Services LLC lifted its stake in Akamai Technologies by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 21,406 shares of the technology infrastructure company’s stock worth $2,161,000 after purchasing an additional 658 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 8.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 46,235 shares of the technology infrastructure company’s stock worth $4,667,000 after purchasing an additional 3,693 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 5.0 %

NASDAQ AKAM opened at $72.56 on Friday. The firm’s fifty day moving average price is $84.76 and its 200 day moving average price is $92.92. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results 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 return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price objective on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Citigroup lowered their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research note on Friday, February 21st. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.55.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $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. Over the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by company 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.