Geode Capital Management LLC Has $394.71 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Geode Capital Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,126,431 shares of the technology infrastructure company’s stock after selling 70,578 shares during the quarter. Geode Capital Management LLC’s holdings in Akamai Technologies were worth $394,707,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AKAM. TCTC Holdings LLC lifted its stake in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after acquiring an additional 102 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after purchasing an additional 114 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares during the last quarter. Delta Capital Management LLC increased its position in shares of Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after buying an additional 120 shares during the period. Finally, Tandem Investment Advisors Inc. raised its stake in Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after buying an additional 140 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 6.5 %

Akamai Technologies stock opened at $73.69 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $73.42 and a fifty-two week high of $107.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm’s 50-day simple moving average is $88.11 and its 200 day simple moving average is $94.06. The stock has a market cap of $11.08 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last announced its 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 business had revenue of $1.02 billion during 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%. Research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business’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. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, Susquehanna cut their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

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.