Marshall Wace LLP Has $18.97 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Marshall Wace LLP lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,594 shares of the technology infrastructure company’s stock after selling 9,021 shares during the quarter. Marshall Wace LLP owned approximately 0.14% of Akamai Technologies worth $18,970,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AKAM. Versant Capital Management Inc raised its stake in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares during the last quarter. Innealta Capital LLC bought a new position in Akamai Technologies during the 2nd quarter worth $28,000. EntryPoint Capital LLC acquired a new position in Akamai Technologies during the 1st quarter worth about $31,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $35,000. Finally, Covestor Ltd grew its position in shares of Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 310 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AKAM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. TD Cowen lifted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler lowered their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Trading Up 1.5 %

NASDAQ AKAM opened at $101.57 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The business has a 50 day moving average price of $98.55 and a 200-day moving average price of $98.10. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 3.23 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the previous year, the business posted $1.01 EPS. Akamai Technologies’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Akamai Technologies Company 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.