GAMMA Investing LLC Has $20.45 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

GAMMA Investing LLC raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 5,951.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 253,978 shares of the technology infrastructure company's stock after buying an additional 249,781 shares during the quarter. GAMMA Investing LLC owned about 0.17% of Akamai Technologies worth $20,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Akamai Technologies by 101.4% in the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock worth $384,000 after purchasing an additional 2,022 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Akamai Technologies by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,172 shares of the technology infrastructure company's stock worth $1,956,000 after buying an additional 971 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Akamai Technologies by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,175 shares of the technology infrastructure company's stock worth $1,930,000 after buying an additional 375 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Akamai Technologies by 3.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,948 shares of the technology infrastructure company's stock worth $473,000 after buying an additional 166 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Akamai Technologies by 11.0% in the 4th quarter. Empowered Funds LLC now owns 4,124 shares of the technology infrastructure company's stock valued at $394,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Analysts Set New Price Targets

AKAM has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Raymond James decreased their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Scotiabank reduced their price objective 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. Finally, Piper Sandler restated a "neutral" rating and issued a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.25.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock traded up $0.89 on Friday, hitting $77.03. The stock had a trading volume of 1,601,454 shares, compared to its average volume of 2,011,261. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The business's 50 day moving average is $76.93 and its two-hundred day moving average is $86.72.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 EPS. Analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares of the company's stock, valued at $2,040,074.12. The trade was a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Karon sold 5,628 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.20, for a total value of $485,133.60. Following the sale, the chief operating officer now directly owns 24,597 shares in the company, valued at approximately $2,120,261.40. This trade represents a 18.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,364 shares of company stock worth $2,549,266. Company insiders own 2.00% of the company's stock.

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.