Asahi Life Asset Management CO. LTD. Buys Shares of 3,460 Akamai Technologies, Inc. (NASDAQ:AKAM)

Asahi Life Asset Management CO. LTD. bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, Holdings Channel.com reports. The fund bought 3,460 shares of the technology infrastructure company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empirical Finance LLC grew its stake in Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after purchasing an additional 103 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Akamai Technologies by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after acquiring an additional 115 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Up 3.6 %

Shares of NASDAQ:AKAM opened at $80.68 on Friday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The company has a market capitalization of $12.13 billion, a PE ratio of 24.75, a PEG ratio of 2.74 and a beta of 0.65. The business has a 50 day moving average of $94.44 and a two-hundred day moving average of $97.25. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton acquired 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on AKAM shares. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Royal Bank of Canada lowered their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies 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.