Bayesian Capital Management LP Grows Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bayesian Capital Management LP grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 155.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,258 shares of the technology infrastructure company's stock after purchasing an additional 17,207 shares during the quarter. Bayesian Capital Management LP's holdings in Akamai Technologies were worth $2,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $49,000. Van ECK Associates Corp grew its position in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after purchasing an additional 910 shares in the last quarter. Cascade Investment Advisors Inc. bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $827,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Akamai Technologies during the 4th quarter worth about $617,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after purchasing an additional 29,888 shares during the period. Institutional investors own 94.28% of the company's stock.

Insiders Place Their Bets

In related news, 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 purchase, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,394 shares of company stock worth $2,653,043. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Akamai Technologies stock traded up $2.58 during mid-day trading on Thursday, reaching $85.44. 3,831,542 shares of the stock traded hands, compared to its average volume of 1,947,367. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The business's 50-day moving average is $78.87 and its 200-day moving average is $89.79. 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 stock has a market capitalization of $12.48 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.48). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AKAM has been the topic of several analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Oppenheimer began coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price for the company. TD Cowen cut Akamai Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Craig Hallum downgraded Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a report on Friday, February 21st. Finally, Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $125.00 to $100.00 in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $104.75.

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.