Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 65,447 shares of the technology infrastructure company’s stock after purchasing an additional 2,591 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $5,265,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AKAM. MassMutual Private Wealth & Trust FSB lifted its position in shares of Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock worth $35,000 after buying an additional 155 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after buying an additional 234 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Akamai Technologies in the 1st quarter worth about $49,000. LRI Investments LLC lifted its position in shares of Akamai Technologies by 500.0% in the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company’s stock worth $60,000 after buying an additional 520 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of Akamai Technologies in the 1st quarter worth about $65,000. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president owned 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $74.42 on Friday. The firm’s 50 day moving average is $77.79 and its 200-day moving average is $80.74. The stock has a market capitalization of $10.67 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 1.18. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AKAM shares. Scotiabank reduced their price target on shares of Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 8th. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a research report on Wednesday. They issued a “sell” rating and a $67.00 price objective on the stock. Raymond James Financial cut their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 price objective on the stock. in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.89.

About Akamai Technologies

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.