AGF Investments LLC Increases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

AGF Investments LLC boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,940 shares of the technology infrastructure company’s stock after purchasing an additional 128 shares during the period. AGF Investments LLC’s holdings in Akamai Technologies were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of Akamai Technologies by 112.4% during the third quarter. Nordea Investment Management AB now owns 11,393,373 shares of the technology infrastructure company’s stock worth $1,215,787,000 after acquiring an additional 6,028,007 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Akamai Technologies by 30.5% during the third quarter. Alliancebernstein L.P. now owns 1,950,976 shares of the technology infrastructure company’s stock worth $204,053,000 after acquiring an additional 456,513 shares in the last quarter. Bowen Hanes & Co. Inc. lifted its position in shares of Akamai Technologies by 1,194.4% during the second quarter. Bowen Hanes & Co. Inc. now owns 298,025 shares of the technology infrastructure company’s stock worth $34,750,000 after acquiring an additional 275,000 shares in the last quarter. Northern Trust Corp lifted its position in shares of Akamai Technologies by 11.4% during the second quarter. Northern Trust Corp now owns 2,217,383 shares of the technology infrastructure company’s stock worth $258,546,000 after acquiring an additional 227,426 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Akamai Technologies by 927.3% during the third quarter. ING Groep NV now owns 159,080 shares of the technology infrastructure company’s stock worth $16,638,000 after acquiring an additional 143,594 shares in the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.

AKAM opened at $112.62 on Friday. The stock has a market cap of $18.30 billion, a PE ratio of 30.94, a P/E/G ratio of 1.95 and a beta of 0.54. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.43. Akamai Technologies, Inc. has a 52 week low of $92.64 and a 52 week high of $124.91. The business’s fifty day simple moving average is $113.22 and its 200 day simple moving average is $112.39.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, November 2nd. The technology infrastructure company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. Akamai Technologies had a return on equity of 16.98% and a net margin of 17.77%. The business had revenue of $860.33 million for the quarter, compared to analysts’ expectations of $852.50 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.57 earnings per share for the current year.

Akamai Technologies announced that its board has authorized a share buyback program on Tuesday, November 2nd that permits the company to buyback $1.80 billion in shares. This buyback authorization permits the technology infrastructure company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

AKAM has been the topic of several research analyst reports. Oppenheimer cut shares of Akamai Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, November 15th. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $133.00 to $127.00 in a report on Wednesday, January 5th. DA Davidson reaffirmed a “buy” rating on shares of Akamai Technologies in a report on Monday, January 3rd. JPMorgan Chase & Co. cut shares of Akamai Technologies from a “neutral” rating to an “underweight” rating and set a $120.00 price target on the stock. in a report on Tuesday, December 14th. Finally, Morgan Stanley upped their price target on shares of Akamai Technologies from $119.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.83.

In other news, insider Rick M. Mcconnell sold 6,164 shares of the stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $110.12, for a total transaction of $678,779.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Blumofe sold 6,000 shares of the stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $104.15, for a total transaction of $624,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,325 shares of company stock valued at $1,894,557. Company insiders own 2.40% of the company’s stock.

Akamai Technologies Profile

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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