Robeco Institutional Asset Management B.V. Boosts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Robeco Institutional Asset Management B.V. lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 36.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,858 shares of the technology infrastructure company’s stock after purchasing an additional 121,092 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.30% of Akamai Technologies worth $541,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. purchased a new stake in shares of Akamai Technologies during the third quarter worth approximately $218,201,000. Los Angeles Capital Management LLC raised its holdings in shares of Akamai Technologies by 123.8% in the 3rd 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 raised its holdings in shares of Akamai Technologies by 40.7% in the 3rd quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock valued at $84,387,000 after purchasing an additional 228,529 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Akamai Technologies by 22.0% during 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, Dimensional Fund Advisors LP increased its holdings in 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 valued at $158,596,000 after buying an additional 146,778 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 1.4 %

Shares of Akamai Technologies stock opened at $93.96 on Friday. The company has a market cap of $14.31 billion, a P/E ratio of 23.37, a PEG ratio of 4.43 and a beta of 0.72. The firm has a fifty day moving average of $102.54 and a two-hundred day moving average of $111.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Akamai Technologies, Inc. has a one year low of $86.31 and a one year high of $129.17.

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

Akamai Technologies declared that its board has authorized a share buyback program on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Akamai Technologies news, CEO F Thomson Leighton bought 22,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the transaction, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 32,243 shares of company stock worth $3,441,153 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AKAM has been the subject of a number of recent analyst reports. Craig Hallum decreased their price target on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. KeyCorp decreased their target price on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Bank of America dropped their price target on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, May 17th. Finally, Susquehanna lowered their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.00.

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.