Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,508 shares of the technology infrastructure company’s stock after purchasing an additional 1,550 shares during the period. Asset Management One Co. Ltd.’s holdings in Akamai Technologies were worth $4,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its stake in shares of Akamai Technologies by 17.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 18,105 shares of the technology infrastructure company’s stock valued at $1,457,000 after purchasing an additional 2,744 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in shares of Akamai Technologies during the 1st quarter valued at about $723,000. Retirement Systems of Alabama raised its holdings in shares of Akamai Technologies by 16.4% during the 1st quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company’s stock valued at $85,434,000 after buying an additional 149,762 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Akamai Technologies by 0.3% during the 1st quarter. Boston Trust Walden Corp now owns 328,987 shares of the technology infrastructure company’s stock valued at $26,483,000 after buying an additional 828 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Akamai Technologies by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 17,597 shares of the technology infrastructure company’s stock valued at $1,416,000 after buying an additional 470 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $79.60 on Friday. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The business has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $84.92.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president now owns 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the transaction, the chief operating officer now owns 10,809 shares of the company’s stock, valued at $918,981.18. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the topic of several analyst reports. Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. UBS Group raised their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Scotiabank dropped their target price on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley dropped their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.25.

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.