Harvest Fund Management Co. Ltd Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Harvest Fund Management Co. Ltd lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 126.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,617 shares of the technology infrastructure company’s stock after acquiring an additional 904 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Akamai Technologies were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AKAM. Jericho Capital Asset Management L.P. purchased a new position in shares of Akamai Technologies during the 3rd quarter valued at about $218,201,000. Los Angeles Capital Management LLC lifted its holdings in Akamai Technologies by 123.8% during the third quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock valued at $78,439,000 after purchasing an additional 407,321 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Akamai Technologies by 40.7% in the third quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock worth $84,387,000 after purchasing an additional 228,529 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Akamai Technologies by 22.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after purchasing an additional 228,200 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Akamai Technologies by 92.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 335,766 shares of the technology infrastructure company’s stock valued at $35,773,000 after purchasing an additional 161,113 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $102.19 on Thursday. The company has a market cap of $15.48 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.87 and a beta of 0.72. The business’s 50 day moving average price is $107.32 and its 200-day moving average price is $112.37. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on AKAM shares. KeyCorp upped their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. upped their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.27.

Insider Activity

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is currently owned by insiders.

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.