Skandinaviska Enskilda Banken AB publ Increases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 59.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,790 shares of the technology infrastructure company’s stock after buying an additional 17,077 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Akamai Technologies were worth $5,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AKAM. Public Employees Retirement System of Ohio lifted its position in shares of Akamai Technologies by 4.5% during the first quarter. Public Employees Retirement System of Ohio now owns 98,681 shares of the technology infrastructure company’s stock worth $10,056,000 after purchasing an additional 4,223 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Akamai Technologies by 22.8% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,575,262 shares of the technology infrastructure company’s stock worth $160,519,000 after purchasing an additional 292,343 shares in the last quarter. TownSquare Capital LLC lifted its position in shares of Akamai Technologies by 9.7% during the first quarter. TownSquare Capital LLC now owns 16,789 shares of the technology infrastructure company’s stock worth $1,711,000 after purchasing an additional 1,482 shares in the last quarter. Physicians Financial Services Inc. acquired a new stake in shares of Akamai Technologies during the second quarter worth about $207,000. Finally, CIBC Asset Management Inc lifted its position in shares of Akamai Technologies by 26.9% during the first quarter. CIBC Asset Management Inc now owns 34,047 shares of the technology infrastructure company’s stock worth $3,469,000 after purchasing an additional 7,213 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

AKAM has been the topic of several analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Akamai Technologies in a report on Thursday, August 5th. Truist Securities raised their price objective on shares of Akamai Technologies from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. Piper Sandler raised their price objective on shares of Akamai Technologies from $130.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, August 4th. Needham & Company LLC cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 4th. Finally, Raymond James started coverage on shares of Akamai Technologies in a report on Monday, August 9th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $125.40.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 7,219 shares of the business’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $118.00, for a total transaction of $851,842.00. Following the sale, the insider now directly owns 29,776 shares in the company, valued at approximately $3,513,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rick M. Mcconnell sold 3,605 shares of the business’s stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $120.00, for a total transaction of $432,600.00. Following the sale, the insider now owns 26,171 shares in the company, valued at $3,140,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,824 shares of company stock worth $2,355,682. 1.60% of the stock is currently owned by insiders.

Shares of AKAM opened at $109.49 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.43. The firm has a market cap of $17.83 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.06 and a beta of 0.43. The company’s 50 day simple moving average is $115.05 and its 200-day simple moving average is $111.04. Akamai Technologies, Inc. has a 12-month low of $92.64 and a 12-month high of $124.91.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Monday, August 2nd. The technology infrastructure company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.30. Akamai Technologies had a net margin of 17.52% and a return on equity of 17.07%. The firm had revenue of $852.82 million for the quarter, compared to analyst estimates of $845.52 million. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.52 EPS for the current fiscal year.

About Akamai Technologies

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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