LGT Capital Partners LTD. Has $40.59 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Capital Partners LTD. lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 60.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 342,954 shares of the technology infrastructure company’s stock after selling 519,549 shares during the period. Akamai Technologies accounts for 1.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 27th largest position. LGT Capital Partners LTD.’s holdings in Akamai Technologies were worth $40,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC boosted its holdings in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the period. Planned Solutions Inc. purchased a new stake in Akamai Technologies during the 4th quarter worth about $37,000. Headinvest LLC purchased a new position in Akamai Technologies during the 3rd quarter valued at about $40,000. Belpointe Asset Management LLC grew its stake in Akamai Technologies by 50.1% during the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $44,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Down 0.8 %

Shares of NASDAQ AKAM opened at $108.76 on Friday. Akamai Technologies, Inc. has a 1 year low of $76.28 and a 1 year high of $129.17. The firm has a 50-day moving average of $114.77 and a 200 day moving average of $112.58. The stock has a market cap of $16.48 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 3.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. Akamai Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of recent analyst reports. KeyCorp increased their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.50.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total value of $470,320.00. Following the completion of the transaction, the executive vice president now owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total transaction of $470,320.00. Following the sale, the executive vice president now owns 20,065 shares in the company, valued at approximately $2,359,242.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,353 shares of company stock valued at $4,159,203. 1.80% of the stock is 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.