Swiss National Bank Has $40.94 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Swiss National Bank decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 428,000 shares of the technology infrastructure company’s stock after selling 24,100 shares during the period. Swiss National Bank owned 0.28% of Akamai Technologies worth $40,938,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Akamai Technologies during the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC raised its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Akamai Technologies during the fourth quarter valued at about $57,000. Jones Financial Companies Lllp raised its holdings in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after buying an additional 656 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AKAM shares. Scotiabank cut their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $125.00 to $98.00 in a report on Friday, February 21st. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Raymond James dropped their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Finally, UBS Group assumed coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Up 2.6 %

NASDAQ AKAM opened at $80.73 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 stock’s 50 day moving average is $91.62 and its two-hundred day moving average is $95.88. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $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. Over the last ninety days, insiders have 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 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.