Bayesian Capital Management LP Purchases 17,207 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Bayesian Capital Management LP lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 155.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,258 shares of the technology infrastructure company's stock after buying an additional 17,207 shares during the quarter. Bayesian Capital Management LP's holdings in Akamai Technologies were worth $2,703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. TCTC Holdings LLC boosted its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Akamai Technologies by 0.6% in the fourth 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 holdings in shares of Akamai Technologies by 1.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after acquiring an additional 116 shares in the last quarter. Delta Capital Management LLC grew its stake in Akamai Technologies by 4.5% in the fourth 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 in the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in Akamai Technologies by 0.5% in the 4th 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 last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

AKAM traded down $8.77 during midday trading on Friday, reaching $76.67. 3,576,685 shares of the company's stock were exchanged, compared to its average volume of 1,955,525. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. 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 business has a 50-day simple moving average of $78.96 and a two-hundred day simple moving average of $89.65. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 23.52, 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 data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at approximately $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,394 shares of company stock worth $2,653,043 in the last three months. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AKAM shares. Scotiabank lowered their price target on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research note on Friday. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and dropped their price target for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Raymond James cut their target price on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Finally, Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Akamai Technologies has a consensus rating of "Moderate Buy" and an average target price of $105.05.

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.