20,100 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by PDT Partners LLC

PDT Partners LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,100 shares of the technology infrastructure company's stock, valued at approximately $1,923,000.

Several other large investors also recently modified their holdings of the business. TCTC Holdings LLC raised its stake in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Akamai Technologies by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after acquiring an additional 114 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock valued at $752,000 after acquiring an additional 116 shares during the period. Delta Capital Management LLC lifted its holdings in Akamai Technologies by 4.5% during the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock valued at $267,000 after purchasing an additional 120 shares during the last quarter. Finally, Tandem Investment Advisors Inc. boosted its position in Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after purchasing an additional 140 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Up 1.0 %

Shares of NASDAQ AKAM opened at $80.98 on Wednesday. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a market cap of $11.83 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The company has a 50 day simple moving average of $78.42 and a 200 day simple moving average of $90.61.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

AKAM has been the subject of a number of research reports. Susquehanna cut their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Piper Sandler decreased their target price on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer started coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price target on the stock. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Finally, Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.75.

Insiders Place Their Bets

In other news, COO Adam Karon sold 6,431 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the transaction, the chief operating officer now owns 14,239 shares in the company, valued at approximately $1,146,097.11. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton acquired 37,670 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares of the company's stock, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 31,394 shares of company stock valued at $2,653,043. 2.00% of the stock is currently owned by company insiders.

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.

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