Ethic Inc. Raises Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ethic Inc. increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 79.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,181 shares of the technology infrastructure company's stock after purchasing an additional 14,651 shares during the period. Ethic Inc.'s holdings in Akamai Technologies were worth $3,174,000 at the end of the most recent quarter.

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

Akamai Technologies Price Performance

Shares of AKAM stock traded up $0.37 during trading hours on Friday, reaching $76.88. The stock had a trading volume of 1,410,472 shares, compared to its average volume of 1,985,241. The stock's fifty day simple moving average is $78.34 and its 200 day simple moving average is $88.77. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The firm has a market capitalization of $11.24 billion, a PE ratio of 23.56, a PEG 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 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.64 earnings per share. Akamai Technologies's revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies 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 completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares of the company's stock, valued at approximately $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,321 shares of company stock worth $2,986,916. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on AKAM shares. UBS Group lifted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Royal Bank of Canada dropped their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Piper Sandler restated a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Craig Hallum cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research report on Friday, February 21st. Finally, Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and decreased 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, nine 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, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.26.

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.