Akamai Technologies, Inc. (NASDAQ:AKAM) Position Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in shares of 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. The institutional investor owned 65,572 shares of the technology infrastructure company's stock after acquiring an additional 3,819 shares during the period. Nisa Investment Advisors LLC's holdings in Akamai Technologies were worth $5,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Akamai Technologies during the fourth quarter worth $477,454,000. First Trust Advisors LP increased its position in Akamai Technologies by 15.6% during 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 buying an additional 690,341 shares during the last quarter. Vontobel Holding Ltd. increased its position in Akamai Technologies by 234.0% during the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock worth $47,943,000 after buying an additional 417,260 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in Akamai Technologies during the first quarter worth $21,626,000. Finally, GAMMA Investing LLC increased its position in Akamai Technologies by 5,951.4% during the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company's stock worth $20,445,000 after buying an additional 249,781 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler reissued a "neutral" rating and set a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. KeyCorp assumed coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 target price on the stock. Scotiabank lowered their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $101.25.

Akamai Technologies Stock Down 2.6%

AKAM stock opened at $77.38 on Friday. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a market cap of $11.31 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The business's 50-day simple moving average is $78.55 and its 200 day simple moving average is $83.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its 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 return on equity of 14.09% and a net margin of 11.26%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business earned $1.64 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts anticipate 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 3,927 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the transaction, the chief operating officer owned 10,809 shares in the company, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Akamai Technologies Company 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.

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