Nomura Asset Management Co. Ltd. Trims Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Nomura Asset Management Co. Ltd. decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 322,940 shares of the technology infrastructure company’s stock after selling 3,624 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $38,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Akamai Technologies in the fourth quarter worth about $325,242,000. Jericho Capital Asset Management L.P. bought a new position in shares of Akamai Technologies in the third quarter worth about $218,201,000. Northern Trust Corp boosted its stake in shares of Akamai Technologies by 3.0% in the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock worth $204,788,000 after acquiring an additional 56,782 shares during the period. Earnest Partners LLC boosted 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 worth $190,981,000 after acquiring an additional 82,364 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Akamai Technologies by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,339,978 shares of the technology infrastructure company’s stock worth $158,596,000 after acquiring an additional 146,778 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The transaction was disclosed in a document filed 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 on 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 $2,278,439.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,243 shares of company stock worth $3,441,153. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on AKAM shares. Raymond James dropped their price target on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price target for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. TD Cowen dropped their price target on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Susquehanna dropped their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 10th. Finally, Piper Sandler dropped their price target on Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.00.

Akamai Technologies Trading Up 0.2 %

Shares of NASDAQ AKAM traded up $0.18 during midday trading on Friday, hitting $94.14. The company’s stock had a trading volume of 1,038,981 shares, compared to its average volume of 2,199,131. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $102.27 and its two-hundred day moving average is $111.17. Akamai Technologies, Inc. has a 12-month low of $86.94 and a 12-month high of $129.17. The firm has a market cap of $14.34 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.47 EPS for the current year.

Akamai Technologies declared that its Board of Directors has initiated a share buyback plan on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.