Dohj LLC Takes $346,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Dohj LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 4,295 shares of the technology infrastructure company's stock, valued at approximately $346,000.

Several other institutional investors also recently made changes to their positions in the stock. TCTC Holdings LLC boosted its position in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after buying an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after buying an additional 114 shares in the last quarter. Tandem Investment Advisors Inc. boosted its position in shares of Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp boosted its position in shares of Akamai Technologies by 1.2% in the 4th quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company's stock worth $1,161,000 after buying an additional 142 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after purchasing an additional 155 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the transaction, the chief operating officer now owns 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. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank cut their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company. UBS Group upped their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Piper Sandler reissued a "neutral" rating and set a $88.00 target price (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.25.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $1.48 during trading hours on Friday, reaching $77.03. The stock had a trading volume of 1,859,071 shares, compared to its average volume of 2,026,820. The business's fifty day moving average is $77.26 and its two-hundred day moving average is $86.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.74 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.

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 (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. 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 prior year, the company posted $1.64 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.