Mackenzie Financial Corp Raises Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mackenzie Financial Corp increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,427,580 shares of the technology infrastructure company's stock after acquiring an additional 81,744 shares during the quarter. Mackenzie Financial Corp owned approximately 1.62% of Akamai Technologies worth $232,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Itau Unibanco Holding S.A. raised its holdings in shares of Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $49,000. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $57,000. LRI Investments LLC boosted its position in shares of Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after acquiring an additional 520 shares during the period. Finally, TCTC Holdings LLC boosted its position in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after acquiring an additional 102 shares during the period. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AKAM shares. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Morgan Stanley reduced their price objective 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 reaffirmed 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 target on the stock. in a research note on Friday, February 21st. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.26.

Insider Transactions at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction 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 transaction, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president now owns 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,478 shares of company stock worth $3,991,190. Insiders own 2.00% of the company's stock.

Akamai Technologies Stock Down 0.7%

AKAM stock traded down $0.50 during midday trading on Thursday, reaching $75.92. 709,844 shares of the company were exchanged, compared to its average volume of 2,003,709. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The stock's 50-day simple moving average is $77.61 and its 200 day simple moving average is $87.30. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth 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 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company earned $1.64 earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.