Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,673 shares of the technology infrastructure company’s stock after purchasing an additional 841 shares during the quarter. CIBC Asset Management Inc’s holdings in Akamai Technologies were worth $2,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its stake in Akamai Technologies by 3.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,063 shares of the technology infrastructure company’s stock worth $1,123,000 after buying an additional 384 shares during the last quarter. Palouse Capital Management Inc. lifted its holdings in shares of Akamai Technologies by 94.9% during the 4th quarter. Palouse Capital Management Inc. now owns 24,209 shares of the technology infrastructure company’s stock worth $2,316,000 after acquiring an additional 11,790 shares during the period. Principal Securities Inc. boosted its position in shares of Akamai Technologies by 24.2% in the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $4,734,000. Finally, Asset Management One Co. Ltd. increased its position in Akamai Technologies by 7.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 58,958 shares of the technology infrastructure company’s stock worth $5,717,000 after purchasing an additional 4,331 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $76.73 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $113.36. The business has a 50 day moving average price of $96.15 and a two-hundred day moving average price of $97.86. The firm has a market cap of $11.53 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 3.58 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company 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 14.63% and a net margin of 13.27%. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,782 shares of company stock valued at $1,523,951. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Susquehanna lowered their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. Raymond James decreased their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

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.