Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Todd Asset Management LLC

Todd Asset Management LLC lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 276,728 shares of the technology infrastructure company’s stock after buying an additional 33,751 shares during the quarter. Todd Asset Management LLC owned approximately 0.18% of Akamai Technologies worth $32,751,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Planned Solutions Inc. purchased a new stake in Akamai Technologies during the fourth quarter worth about $37,000. Headinvest LLC purchased a new stake in Akamai Technologies during the 3rd quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new position in Akamai Technologies in the 4th quarter valued at $43,000. Bruce G. Allen Investments LLC purchased a new position in Akamai Technologies during the fourth quarter worth about $44,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after buying an additional 125 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 0.1 %

Akamai Technologies stock traded down $0.07 during midday trading on Friday, reaching $99.67. The stock had a trading volume of 1,724,338 shares, compared to its average volume of 1,176,579. The firm’s fifty day simple moving average is $106.23 and its 200-day simple moving average is $112.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a 1-year low of $76.85 and a 1-year high of $129.17. The stock has a market capitalization of $15.10 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 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 during the quarter, compared to analysts’ expectations of $999.09 million. During the same period in the previous year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AKAM. Citigroup reduced their price objective on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. KeyCorp increased their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, Piper Sandler increased their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.60.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares in the company, valued at $1,624,208.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock valued at $3,368,303 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.