IFM Investors Pty Ltd Has $3.20 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

IFM Investors Pty Ltd lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 29,391 shares of the technology infrastructure company’s stock after selling 711 shares during the quarter. IFM Investors Pty Ltd’s holdings in Akamai Technologies were worth $3,197,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Akamai Technologies in the fourth quarter valued at about $325,242,000. Mackenzie Financial Corp lifted its position in shares of Akamai Technologies by 1.8% in the 3rd quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock worth $223,554,000 after acquiring an additional 38,069 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $218,201,000. Northern Trust Corp increased its position in shares of Akamai Technologies by 3.0% during the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock valued at $204,788,000 after purchasing an additional 56,782 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of Akamai Technologies by 4.8% in the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after purchasing an additional 82,364 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM traded down $0.11 during mid-day trading on Friday, reaching $101.68. 820,088 shares of the company were exchanged, compared to its average volume of 1,107,475. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a market cap of $15.41 billion, a PE ratio of 28.80, a PEG ratio of 2.87 and a beta of 0.72. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The company has a fifty day moving average of $106.97 and a 200 day moving average of $112.27.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. During the same period last year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated 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 owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. In the last three months, insiders sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AKAM has been the topic of several analyst reports. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $128.00 to $135.00 in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Piper Sandler raised their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

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.