Korea Investment CORP Has $34.42 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Korea Investment CORP trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 21.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 376,895 shares of the technology infrastructure company’s stock after selling 105,410 shares during the period. Korea Investment CORP’s holdings in Akamai Technologies were worth $34,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in Akamai Technologies during the 1st quarter worth approximately $737,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Akamai Technologies by 7.1% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 186,921 shares of the technology infrastructure company’s stock worth $17,071,000 after purchasing an additional 12,390 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Akamai Technologies during the 1st quarter worth approximately $149,000. Simmons Bank lifted its holdings in Akamai Technologies by 2.9% during the 2nd quarter. Simmons Bank now owns 8,073 shares of the technology infrastructure company’s stock worth $738,000 after purchasing an additional 226 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Akamai Technologies by 25.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,765 shares of the technology infrastructure company’s stock worth $61,170,000 after purchasing an additional 136,131 shares during the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AKAM. Morgan Stanley dropped their price target on Akamai Technologies from $98.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, November 9th. Truist Financial dropped their price objective on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Cowen dropped their price objective on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9th. TheStreet cut Akamai Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, September 20th. Finally, KeyCorp dropped their price objective on Akamai Technologies from $116.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.93.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 1,500 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total transaction of $121,185.00. Following the sale, the executive vice president now owns 31,183 shares in the company, valued at approximately $2,519,274.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Paul C. Joseph sold 1,500 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total transaction of $121,185.00. Following the sale, the executive vice president now owns 31,183 shares in the company, valued at approximately $2,519,274.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 5,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the sale, the chief technology officer now owns 9,835 shares in the company, valued at approximately $913,868.20. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Akamai Technologies Trading Up 0.2 %

Shares of AKAM opened at $91.92 on Thursday. Akamai Technologies, Inc. has a 52-week low of $76.28 and a 52-week high of $123.25. The business’s fifty day moving average is $85.66 and its 200-day moving average is $91.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.83 and a beta of 0.71.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.04. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The company had revenue of $881.90 million for the quarter, compared to analyst estimates of $875.99 million. During the same quarter last year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.17 EPS for the current fiscal year.

About Akamai Technologies

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

See Also

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

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