Mizuho Markets Americas LLC Purchases New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mizuho Markets Americas LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,571 shares of the technology infrastructure company’s stock, valued at approximately $1,961,000.

Other hedge funds also recently modified their holdings of the company. Planned Solutions Inc. bought a new position in Akamai Technologies in the 4th quarter valued at $37,000. Turtle Creek Wealth Advisors LLC acquired a new position in Akamai Technologies in the fourth quarter worth $43,000. Bruce G. Allen Investments LLC acquired a new position in Akamai Technologies in the fourth quarter worth $44,000. Headinvest LLC bought a new stake in shares of Akamai Technologies during the third quarter worth $40,000. Finally, Lindbrook Capital LLC raised its position in shares of Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Raymond James dropped their price objective on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 10th. KeyCorp dropped their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Craig Hallum dropped their price objective on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Citigroup dropped 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Hold” and an average target price of $114.00.

Akamai Technologies Stock Down 1.7 %

NASDAQ AKAM traded down $1.66 during trading hours on Friday, hitting $95.21. 2,430,634 shares of the company traded hands, compared to its average volume of 2,074,575. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The business’s 50-day moving average is $103.73 and its 200-day moving average is $111.61. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 4.24 and a beta of 0.72. Akamai Technologies, Inc. has a twelve month low of $86.26 and a twelve month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.03. The firm had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.79 earnings per share for the current year.

Akamai Technologies declared that its Board of Directors has authorized a share buyback program on Thursday, May 9th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton acquired 22,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO F Thomson Leighton bought 22,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the purchase, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. Insiders have sold 32,243 shares of company stock worth $3,441,153 over the last 90 days. Company 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.