PDT Partners LLC Takes $1.92 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

PDT Partners LLC purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,100 shares of the technology infrastructure company's stock, valued at approximately $1,923,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Akamai Technologies during the third quarter valued at $548,000. Sculati Wealth Management LLC lifted its holdings in Akamai Technologies by 5.1% during the 3rd quarter. Sculati Wealth Management LLC now owns 13,128 shares of the technology infrastructure company's stock valued at $1,428,000 after buying an additional 633 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in Akamai Technologies by 13.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,577 shares of the technology infrastructure company's stock valued at $1,472,000 after buying an additional 1,700 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Akamai Technologies in the 3rd quarter valued at about $483,000. Finally, Cim Investment Management Inc. grew its stake in Akamai Technologies by 124.9% in the 3rd quarter. Cim Investment Management Inc. now owns 21,502 shares of the technology infrastructure company's stock worth $2,171,000 after acquiring an additional 11,943 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock traded up $1.13 on Monday, hitting $83.67. The company had a trading volume of 394,958 shares, compared to its average volume of 1,929,491. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12.22 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The company has a 50-day moving average price of $78.66 and a 200-day moving average price of $90.05. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80.

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

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton acquired 37,670 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,394 shares of company stock worth $2,653,043. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent research reports. Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective for the company. Morgan Stanley lowered their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, February 21st. Piper Sandler lowered their target price on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.75.

About Akamai Technologies

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.