Cascade Investment Advisors Inc. Has $1.22 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cascade Investment Advisors Inc. raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 74.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,092 shares of the technology infrastructure company's stock after buying an additional 6,447 shares during the period. Cascade Investment Advisors Inc.'s holdings in Akamai Technologies were worth $1,215,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies in the 4th quarter valued at approximately $49,000. Van ECK Associates Corp increased its stake 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 worth $263,000 after acquiring an additional 910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies in the fourth quarter worth $617,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Akamai Technologies by 3.3% during the fourth 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, Sawgrass Asset Management LLC boosted its position in Akamai Technologies by 20.0% during the fourth quarter. Sawgrass Asset Management LLC now owns 171,923 shares of the technology infrastructure company's stock valued at $16,444,000 after purchasing an additional 28,654 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AKAM shares. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target for the company. Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. 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 note on Friday, May 9th. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Citigroup reduced their price target on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and an average price target of $103.26.

Insider Buying and Selling at Akamai Technologies

In other 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 value of $924,293.16. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the transaction, the executive vice president now directly owns 43,575 shares of the company's stock, valued at $3,326,079.75. This represents a 23.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,047 shares of company stock valued at $3,473,559. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Up 1.2%

Shares of Akamai Technologies stock traded up $0.92 during trading hours on Tuesday, reaching $77.09. 2,046,266 shares of the company's stock were exchanged, compared to its average volume of 2,004,427. The stock has a market cap of $11.27 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.74 and a beta of 0.82. The company has a 50 day moving average of $77.24 and a two-hundred day moving average of $87.00. 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 fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.