FORA Capital LLC Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

FORA Capital LLC bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 30,222 shares of the technology infrastructure company’s stock, valued at approximately $2,891,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. Norges Bank bought a new position in Akamai Technologies during the 4th quarter valued at $477,454,000. Earnest Partners LLC grew its stake in Akamai Technologies by 2.7% in the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock worth $211,935,000 after purchasing an additional 58,013 shares in the last quarter. Northern Trust Corp grew its position in shares of Akamai Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock worth $178,085,000 after acquiring an additional 163,472 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Akamai Technologies by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after acquiring an additional 29,888 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, 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 position. The disclosure for this purchase can be found here. Insiders sold a total of 31,394 shares of company stock worth $2,653,043 over the last three months. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Trading Up 3.1 %

Shares of AKAM opened at $85.44 on Friday. 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 $12.48 billion, a P/E ratio of 26.21, a PEG ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The firm has a fifty day simple moving average of $78.96 and a two-hundred day simple moving average of $89.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AKAM. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Citigroup lowered their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research report on Friday, February 21st. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Scotiabank lowered their price target on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. One investment 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

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.