Asahi Life Asset Management CO. LTD. Acquires Shares of 3,460 Akamai Technologies, Inc. (NASDAQ:AKAM)

Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,460 shares of the technology infrastructure company’s stock, valued at approximately $331,000.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the 4th 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 purchased a new stake in Akamai Technologies during the 4th quarter valued at approximately $57,000. Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in Akamai Technologies by 24.2% during the 4th 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. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of research analyst reports. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Robert W. Baird lowered their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Stock Up 3.6 %

NASDAQ:AKAM opened at $80.68 on Friday. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. The stock has a fifty day simple moving average of $94.44 and a 200-day simple moving average of $97.25. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton purchased 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

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.