Los Angeles Capital Management LLC Acquires 176,173 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Los Angeles Capital Management LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.9% during the 4th quarter, Holdings Channel reports. The firm owned 912,409 shares of the technology infrastructure company’s stock after purchasing an additional 176,173 shares during the period. Los Angeles Capital Management LLC’s holdings in Akamai Technologies were worth $107,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKAM. Cambridge Investment Research Advisors Inc. raised its holdings in Akamai Technologies by 707.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,961 shares of the technology infrastructure company’s stock valued at $4,577,000 after acquiring an additional 37,639 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Akamai Technologies by 92.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 335,766 shares of the technology infrastructure company’s stock valued at $35,773,000 after buying an additional 161,113 shares in the last quarter. Xponance Inc. grew its position in Akamai Technologies by 0.5% in the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after acquiring an additional 110 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Akamai Technologies by 111.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 34,719 shares of the technology infrastructure company’s stock worth $3,699,000 after acquiring an additional 18,325 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Akamai Technologies by 1.7% in the third quarter. Forsta AP Fonden now owns 29,400 shares of the technology infrastructure company’s stock worth $3,132,000 after acquiring an additional 500 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 news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold a total of 30,753 shares of company stock worth $3,368,303 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. KeyCorp increased their price target on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Piper Sandler boosted their price objective on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Citigroup lowered their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Trading Down 1.5 %

Shares of Akamai Technologies stock traded down $1.52 during midday trading on Thursday, reaching $99.37. The company had a trading volume of 1,277,830 shares, compared to its average volume of 1,589,854. The stock has a fifty day moving average price of $106.55 and a 200 day moving average price of $112.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The firm has a market cap of $15.06 billion, a PE ratio of 27.86, a P/E/G ratio of 2.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

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.