Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,975 shares of the technology infrastructure company’s stock after purchasing an additional 238 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its position in Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC boosted its position in Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after purchasing an additional 100 shares during the last quarter. Private Trust Co. NA boosted its position in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Akamai Technologies by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after purchasing an additional 108 shares during the last quarter. Finally, Xponance Inc. boosted its position in Akamai Technologies by 0.5% in the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $101.68 on Friday. 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, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.87 and a beta of 0.72. The business’s fifty day moving average is $106.97 and its 200 day moving average is $112.30.

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, topping analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. Research analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AKAM. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. HSBC cut 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 report on Thursday, February 15th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. KeyCorp upped their price target on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, Citigroup dropped their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the company’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 directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the company’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 directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 in the last ninety days. 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.