National Bank of Canada FI Has $6.73 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

National Bank of Canada FI trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,354 shares of the technology infrastructure company’s stock after selling 7,089 shares during the period. National Bank of Canada FI’s holdings in Akamai Technologies were worth $6,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies in the 4th quarter valued at about $49,000. Van ECK Associates Corp raised its stake in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after buying an additional 910 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares during the last quarter. Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $617,000. 94.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the sale, the chief operating officer now owns 14,239 shares in the company, valued at $1,146,097.11. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $73.69 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The company 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. The company has a 50 day moving average of $88.11 and a 200-day moving average of $94.01. Akamai Technologies, Inc. has a 1-year low of $72.50 and a 1-year high of $107.60.

Akamai Technologies (NASDAQ:AKAM) last issued 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AKAM. Raymond James reduced their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Oppenheimer began coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.