Akamai Technologies, Inc. (NASDAQ:AKAM) Stake Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,572 shares of the technology infrastructure company's stock after buying an additional 3,819 shares during the quarter. Nisa Investment Advisors LLC's holdings in Akamai Technologies were worth $5,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after purchasing an additional 690,341 shares in the last quarter. Norges Bank purchased a new position in Akamai Technologies during the fourth quarter valued at $477,454,000. Mackenzie Financial Corp increased its holdings in Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock worth $232,198,000 after buying an additional 81,744 shares in the last quarter. Earnest Partners LLC lifted its holdings in Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after purchasing an additional 58,013 shares in the last quarter. Finally, Northern Trust Corp grew its position in Akamai Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after acquiring an additional 163,472 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer assumed coverage on Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective for the company. Piper Sandler restated a "neutral" rating and set a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. KeyCorp assumed coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company. Scotiabank dropped their price objective on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.25.

Insider Activity

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction 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 sale, the executive vice president owned 43,575 shares in the company, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the transaction, the chief operating officer owned 10,809 shares of the company's stock, valued at $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded down $0.61 during midday trading on Tuesday, reaching $76.80. The company's stock had a trading volume of 975,890 shares, compared to its average volume of 2,072,215. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $11.23 billion, a PE ratio of 25.86, a P/E/G ratio of 2.44 and a beta of 0.77. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The stock has a fifty day moving average of $78.55 and a 200 day moving average of $83.61.

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 for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company posted $1.64 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.