Prudential Financial Inc. Has $9.80 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Prudential Financial Inc. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.4% in the 4th quarter, Holdings Channel reports. The firm owned 102,449 shares of the technology infrastructure company’s stock after acquiring an additional 7,035 shares during the period. Prudential Financial Inc.’s holdings in Akamai Technologies were worth $9,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Pension Service raised its holdings in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after buying an additional 273,043 shares in the last quarter. Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares in the last quarter. Tredje AP fonden lifted its holdings in shares of Akamai Technologies by 580.4% in the fourth quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock worth $16,239,000 after acquiring an additional 144,823 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after purchasing an additional 139,760 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the purchase, 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. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

AKAM opened at $80.05 on Friday. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $109.98. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.74 and a beta of 0.68. The company’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $94.70. 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 posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AKAM. Oppenheimer began coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price on the stock. Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Susquehanna cut their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.55.

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.