Bridgewater Associates LP Sells 41,887 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Bridgewater Associates LP reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 53.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,577 shares of the technology infrastructure company’s stock after selling 41,887 shares during the period. Bridgewater Associates LP’s holdings in Akamai Technologies were worth $3,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AKAM. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies in the fourth quarter valued at $49,000. Van ECK Associates Corp grew its holdings in shares of Akamai Technologies by 49.6% in the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after purchasing an additional 910 shares during the last quarter. Cascade Investment Advisors Inc. acquired a new stake in shares of Akamai Technologies during the 4th quarter worth about $827,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Akamai Technologies during the 4th quarter valued at about $617,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 0.5 %

Shares of NASDAQ AKAM opened at $73.46 on Friday. The firm has a 50 day moving average price of $82.12 and a 200 day moving average price of $92.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market cap of $10.73 billion, a P/E ratio of 22.53, a P/E/G ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80.

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

Analysts Set New Price Targets

AKAM has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.75.

Insider Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 31,394 shares of company stock worth $2,653,043. 1.80% of the stock is owned by company insiders.

Akamai Technologies Company 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.