Bp Plc Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)


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Bp Plc lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 49.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,897 shares of the technology infrastructure company’s stock after selling 7,703 shares during the period. Bp Plc’s holdings in Akamai Technologies were worth $829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CENTRAL TRUST Co raised its position in shares of Akamai Technologies by 15.3% during the 3rd quarter. CENTRAL TRUST Co now owns 967 shares of the technology infrastructure company’s stock worth $107,000 after purchasing an additional 128 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Akamai Technologies by 55.1% in the third quarter. Prestige Wealth Management Group LLC now owns 684 shares of the technology infrastructure company’s stock worth $76,000 after acquiring an additional 243 shares during the last quarter. Ellevest Inc. lifted its position in shares of Akamai Technologies by 29.8% in the third quarter. Ellevest Inc. now owns 941 shares of the technology infrastructure company’s stock valued at $104,000 after acquiring an additional 216 shares in the last quarter. Norris Perne & French LLP MI boosted its stake in shares of Akamai Technologies by 52.7% during the third quarter. Norris Perne & French LLP MI now owns 101,785 shares of the technology infrastructure company’s stock valued at $11,251,000 after acquiring an additional 35,111 shares during the last quarter. Finally, Alberta Investment Management Corp increased its position in Akamai Technologies by 80.8% during the 3rd quarter. Alberta Investment Management Corp now owns 51,900 shares of the technology infrastructure company’s stock worth $5,737,000 after purchasing an additional 23,200 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

NASDAQ:AKAM opened at $98.06 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $75.18 and a 12 month high of $124.91. The business’s 50-day moving average is $107.00 and its two-hundred day moving average is $106.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market capitalization of $15.96 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.90 and a beta of 0.47.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Monday, February 8th. The technology infrastructure company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $846.00 million for the quarter, compared to analyst estimates of $829.46 million. Akamai Technologies had a return on equity of 17.69% and a net margin of 18.01%. Akamai Technologies’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.18 EPS for the current year.

Several equities research analysts have issued reports on the stock. Credit Suisse Group raised their price target on shares of Akamai Technologies from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 10th. Zacks Investment Research raised shares of Akamai Technologies from a “sell” rating to a “hold” rating and set a $116.00 target price for the company in a research note on Wednesday, January 20th. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Wednesday, February 10th. Piper Sandler lowered their price objective on Akamai Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, November 12th. Finally, JPMorgan Chase & Co. lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $117.00 in a research note on Wednesday, February 10th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Akamai Technologies currently has an average rating of “Buy” and a consensus price target of $120.22.

In other Akamai Technologies news, Director Madhu Ranganathan sold 1,675 shares of the company’s stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $104.09, for a total transaction of $174,350.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Aaron Ahola sold 1,920 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $102.25, for a total value of $196,320.00. Following the transaction, the executive vice president now directly owns 3,885 shares in the company, valued at approximately $397,241.25. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides Web Application Protector to safeguard web assets from web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Edge DNS, which translates human-readable domain names into numerical IP addresses; Site Shield that prevents attacker from directly targeting the application origin and forces traffic to go through its network, where attack can be better detected and mitigated; identity Cloud, a customer identity access management solution; Prolexic Routed to protect web- and IP-based application; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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