Farringdon Capital Ltd. Invests $574,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Farringdon Capital Ltd. bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,997 shares of the technology infrastructure company's stock, valued at approximately $574,000.

Other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in Akamai Technologies by 8.0% during the fourth quarter. NewEdge Advisors LLC now owns 18,367 shares of the technology infrastructure company's stock worth $1,757,000 after purchasing an additional 1,354 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Akamai Technologies by 24.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 7,883 shares of the technology infrastructure company's stock worth $754,000 after buying an additional 1,557 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $259,000. Townsquare Capital LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth $221,000. Finally, Distillate Capital Partners LLC purchased a new position in shares of Akamai Technologies in the 4th quarter worth about $15,347,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of AKAM traded up $1.50 during trading hours on Wednesday, hitting $75.17. 962,383 shares of the company were exchanged, compared to its average volume of 1,920,727. The firm has a fifty day simple moving average of $80.46 and a 200-day simple moving average of $91.43. The company has a market capitalization of $10.98 billion, a PE ratio of 23.06, a PEG ratio of 2.74 and a beta of 0.80. 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, Inc. has a one year low of $67.51 and a one year high of $106.80.

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

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the transaction, the chief operating officer now owns 14,239 shares of the company's stock, valued at $1,146,097.11. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost 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 approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 31,394 shares of company stock worth $2,653,043 in the last 90 days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Piper Sandler decreased their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $98.00 in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Finally, Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of "Moderate Buy" and a consensus price target 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.