Danske Bank A S decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 81.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,903 shares of the technology infrastructure company’s stock after selling 83,609 shares during the period. Danske Bank A S’s holdings in Akamai Technologies were worth $1,649,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in AKAM. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 39.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock valued at $258,739,000 after buying an additional 980,966 shares in the last quarter. Invesco Ltd. grew its stake in shares of Akamai Technologies by 5.8% in the 3rd quarter. Invesco Ltd. now owns 3,239,099 shares of the technology infrastructure company’s stock valued at $245,394,000 after buying an additional 177,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Akamai Technologies by 35.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,331,333 shares of the technology infrastructure company’s stock valued at $176,626,000 after buying an additional 612,071 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Akamai Technologies by 522.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock valued at $153,061,000 after buying an additional 1,695,937 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of Akamai Technologies by 570.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company’s stock valued at $123,795,000 after buying an additional 1,390,167 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.
Akamai Technologies Trading Up 11.5%
NASDAQ:AKAM opened at $117.94 on Wednesday. The company’s 50 day moving average is $104.63 and its 200-day moving average is $94.19. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. Akamai Technologies, Inc. has a 12 month low of $69.78 and a 12 month high of $121.12. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 38.29, a P/E/G ratio of 3.63 and a beta of 0.45.
Insider Buying and Selling at Akamai Technologies
In related news, EVP Anthony P. Williams sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $104.29, for a total transaction of $1,564,350.00. Following the completion of the sale, the executive vice president owned 22,064 shares in the company, valued at $2,301,054.56. This represents a 40.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Laura Howell sold 11,273 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $100.14, for a total value of $1,128,878.22. Following the completion of the sale, the chief accounting officer directly owned 12,559 shares in the company, valued at $1,257,658.26. This trade represents a 47.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,454 shares of company stock worth $5,889,371 in the last ninety days. 2.30% of the stock is owned by insiders.
Analyst Ratings Changes
AKAM has been the subject of several recent research reports. Evercore initiated coverage on Akamai Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $130.00 price target for the company. Citigroup boosted their price target on Akamai Technologies from $103.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Robert W. Baird reissued a “neutral” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Thursday, April 2nd. Morgan Stanley boosted their price target on Akamai Technologies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Susquehanna boosted their price target on Akamai Technologies from $105.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.37.
Check Out Our Latest Stock Report on AKAM
Akamai Technologies Company Profile
Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.
The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.
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