Charles Schwab Investment Management Inc. Increases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Charles Schwab Investment Management Inc. grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 940,681 shares of the technology infrastructure company's stock after purchasing an additional 18,437 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Akamai Technologies worth $75,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP raised its holdings in shares of 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 valued at $489,383,000 after acquiring an additional 690,341 shares in the last quarter. Vanguard Group Inc. grew its stake in Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock valued at $1,503,205,000 after purchasing an additional 425,461 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of 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 acquiring an additional 417,260 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Akamai Technologies during the first quarter worth about $21,626,000. Finally, GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 249,781 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AKAM shares. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group started coverage on Akamai Technologies in a research note on Wednesday. They set a "sell" rating and a $67.00 target price for the company. Piper Sandler reduced their target price on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Morgan Stanley downgraded Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective for the company. in a research note on Tuesday, August 5th. Finally, KeyCorp began coverage on Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $94.89.

Akamai Technologies Trading Up 0.2%

Akamai Technologies stock traded up $0.15 during midday trading on Friday, reaching $74.42. 2,011,452 shares of the stock traded hands, compared to its average volume of 2,206,776. The company has a 50-day simple moving average of $77.79 and a two-hundred day simple moving average of $80.74. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The firm has a market cap of $10.67 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.88 and a beta of 0.76. The company has a current ratio of 2.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%. Akamai Technologies's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. Research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the transaction, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares in the company, valued at $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 currently owned by company insiders.

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.