Penserra Capital Management LLC Increases Stock Holdings in Akamai Technologies, Inc. $AKAM

Penserra Capital Management LLC lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,422 shares of the technology infrastructure company’s stock after buying an additional 24,893 shares during the quarter. Penserra Capital Management LLC owned about 0.10% of Akamai Technologies worth $10,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Alberta Investment Management Corp bought a new position in Akamai Technologies in the 2nd quarter valued at approximately $822,000. Rakuten Investment Management Inc. purchased a new stake in Akamai Technologies during the third quarter valued at approximately $5,323,000. Norges Bank purchased a new position in Akamai Technologies during the second quarter valued at $266,817,000. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 39.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock valued at $258,739,000 after acquiring an additional 980,966 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Akamai Technologies by 82.6% during the 2nd quarter. Intech Investment Management LLC now owns 64,731 shares of the technology infrastructure company’s stock valued at $5,163,000 after purchasing an additional 29,281 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several recent analyst reports. Wall Street Zen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Jefferies Financial Group downgraded shares of Akamai Technologies to an “underperform” rating in a report on Monday, December 15th. Citigroup upped their price target on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Scotiabank upped their target price on Akamai Technologies from $94.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Friday, January 9th. Finally, Morgan Stanley raised Akamai Technologies from an “underweight” rating to an “overweight” rating and increased their target price for the company from $83.00 to $115.00 in a research report on Monday, January 12th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.11.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $90.17, for a total transaction of $450,850.00. Following the completion of the transaction, the executive vice president owned 17,513 shares of the company’s stock, valued at approximately $1,579,147.21. This trade represents a 22.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 6,560 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $88.03, for a total value of $577,476.80. Following the transaction, the chief financial officer directly owned 16,442 shares in the company, valued at approximately $1,447,389.26. The trade was a 28.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,318 shares of company stock worth $2,890,254. 2.00% of the stock is owned by company insiders.

Akamai Technologies Stock Up 0.1%

AKAM opened at $91.92 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 3.32 and a beta of 0.70. The company has a fifty day moving average of $90.07 and a two-hundred day moving average of $82.14. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $104.97.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.22. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $1.59 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.