Mackenzie Financial Corp Grows Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mackenzie Financial Corp increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,427,580 shares of the technology infrastructure company's stock after buying an additional 81,744 shares during the period. Mackenzie Financial Corp owned 1.62% of Akamai Technologies worth $232,198,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. HB Wealth Management LLC lifted its stake in shares of Akamai Technologies by 5.5% in the 4th quarter. HB Wealth Management LLC now owns 3,102 shares of the technology infrastructure company's stock valued at $297,000 after purchasing an additional 161 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Akamai Technologies by 5.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,296 shares of the technology infrastructure company's stock worth $1,177,000 after purchasing an additional 586 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in Akamai Technologies by 61.4% during the fourth quarter. IVC Wealth Advisors LLC now owns 3,615 shares of the technology infrastructure company's stock valued at $346,000 after buying an additional 1,375 shares during the period. Brighton Jones LLC lifted its position in Akamai Technologies by 101.4% during the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock valued at $384,000 after buying an additional 2,022 shares during the period. Finally, CX Institutional boosted its holdings in shares of Akamai Technologies by 9.0% during the 4th quarter. CX Institutional now owns 10,855 shares of the technology infrastructure company's stock valued at $1,038,000 after buying an additional 897 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock traded up $2.05 during trading hours on Tuesday, reaching $77.89. The company had a trading volume of 1,845,236 shares, compared to its average volume of 2,009,986. The business has a fifty day moving average price of $77.77 and a 200-day moving average price of $87.44. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The firm has a market cap of $11.39 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. 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 (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on AKAM. Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price on the stock. Susquehanna lowered their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research report on Friday, February 21st. Piper Sandler reissued a "neutral" rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Morgan Stanley lowered their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.26.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction dated 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 approximately $2,075,441.76. The trade was a 30.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,321 shares of company stock valued at $2,986,916. Insiders own 2.00% of the company's stock.

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.