Campbell & CO Investment Adviser LLC Purchases Shares of 7,022 Akamai Technologies, Inc. (NASDAQ:AKAM)

Campbell & CO Investment Adviser LLC purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 7,022 shares of the technology infrastructure company’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AKAM. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Akamai Technologies during the 3rd quarter worth $1,666,000. Amalgamated Bank boosted its stake in shares of Akamai Technologies by 0.5% during the 3rd quarter. Amalgamated Bank now owns 40,635 shares of the technology infrastructure company’s stock worth $4,329,000 after acquiring an additional 193 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 829,661 shares of the technology infrastructure company’s stock worth $88,392,000 after acquiring an additional 10,900 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of Akamai Technologies by 1.2% during the 3rd quarter. Shell Asset Management Co. now owns 9,800 shares of the technology infrastructure company’s stock worth $1,044,000 after acquiring an additional 116 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Akamai Technologies by 13.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,696 shares of the technology infrastructure company’s stock worth $1,459,000 after acquiring an additional 1,635 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Adam Karon sold 8,394 shares of the firm’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 sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Adam Karon sold 8,394 shares of the firm’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 sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at $1,624,208.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,243 shares of company stock valued at $3,534,693. 1.80% of the stock is owned by insiders.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $90.02 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $86.94 and a fifty-two week high of $129.17. The stock’s 50-day moving average is $99.16 and its two-hundred day moving average is $109.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market cap of $13.71 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.27 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.47 earnings per share for the current fiscal year.

Akamai Technologies declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 9th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AKAM shares. Bank of America reduced their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a report on Friday, May 10th. Piper Sandler reduced their target price on Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. increased their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Robert W. Baird reduced their target price on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Susquehanna reduced their target price on 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 issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.00.

Check Out Our Latest Stock Report on Akamai Technologies

Akamai Technologies Company Profile

(Free Report)

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.

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

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