Vinva Investment Management Ltd Acquires 2,182 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Vinva Investment Management Ltd increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 67.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,399 shares of the technology infrastructure company’s stock after acquiring an additional 2,182 shares during the quarter. Vinva Investment Management Ltd’s holdings in Akamai Technologies were worth $516,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AKAM. National Pension Service increased its holdings in Akamai Technologies by 595.3% in the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after buying an additional 273,043 shares during the period. Geode Capital Management LLC increased its holdings in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares during the period. Tredje AP fonden increased its holdings in Akamai Technologies by 580.4% in the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock valued at $16,239,000 after buying an additional 144,823 shares during the period. Retirement Systems of Alabama increased its holdings in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after buying an additional 139,760 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

AKAM opened at $81.04 on Friday. 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 $12.18 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68. The firm’s fifty day moving average price is $90.58 and its two-hundred day moving average price is $95.28. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.14.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, analysts anticipate 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 research analysts have recently weighed in on AKAM shares. Royal Bank of Canada reduced 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 research note on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, 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 report on Monday, February 24th. One research 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 stock. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Karon sold 5,628 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.20, for a total transaction of $485,133.60. Following the completion of the transaction, the chief operating officer now directly owns 24,597 shares in the company, valued at $2,120,261.40. This trade represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last three months. 1.80% of the stock is currently owned by 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.