160,452 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 160,452 shares of the technology infrastructure company's stock, valued at approximately $15,347,000. Distillate Capital Partners LLC owned about 0.11% of Akamai Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new stake in Akamai Technologies during the 4th quarter worth approximately $477,454,000. Geode Capital Management LLC raised its holdings in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after acquiring an additional 202,746 shares in the last quarter. Nordea Investment Management AB boosted its stake in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Akamai Technologies by 3.3% during 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 acquiring an additional 29,888 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock worth $87,188,000 after purchasing an additional 74,373 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded down $0.35 on Thursday, hitting $73.46. The company had a trading volume of 1,613,375 shares, compared to its average volume of 1,919,270. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a market cap of $10.73 billion, a PE ratio of 22.53, a PEG ratio of 2.74 and a beta of 0.80. The business has a 50-day simple moving average of $82.69 and a 200-day simple moving average of $92.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Citigroup reduced their price objective on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.75.

Insider Activity

In related news, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 31,394 shares of company stock worth $2,653,043 in the last 90 days. Company insiders own 1.80% of the company's stock.

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.