Headlands Technologies LLC Buys Shares of 15,517 Akamai Technologies, Inc. (NASDAQ:AKAM)

Key Points

• Headlands Technologies LLC has invested approximately $1.25 million in Akamai Technologies, Inc., acquiring 15,517 shares in the first quarter.
• Akamai Technologies has reported a 6.5% year-over-year increase in quarterly revenue, with an earnings per share (EPS) of $1.73, surpassing analysts' expectations.
• Currently, 94.28% of Akamai's stock is owned by hedge funds and institutional investors, reflecting significant investor interest in the company.

Headlands Technologies LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,517 shares of the technology infrastructure company's stock, valued at approximately $1,249,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings 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 period. First Trust Advisors LP grew its position in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after buying an additional 690,341 shares during the last quarter. Mackenzie Financial Corp grew its position in Akamai Technologies by 2.3% in the 1st quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after purchasing an additional 56,411 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after acquiring an additional 58,013 shares during the period. Finally, Northern Trust Corp lifted its stake in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after purchasing an additional 163,472 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at $2,514,811.26. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 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. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Down 5.7%

Akamai Technologies stock traded down $4.23 during mid-day trading on Friday, hitting $70.53. The company's stock had a trading volume of 5,400,278 shares, compared to its average volume of 1,658,531. The company has a 50 day moving average of $78.12 and a 200-day moving average of $81.49. The stock has a market cap of $10.31 billion, a PE ratio of 25.01, a P/E/G ratio of 2.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.05% and a net margin of 10.40%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Raymond James Financial dropped their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research note on Friday. KeyCorp initiated coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price on the stock. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a research note on Tuesday, August 5th. Scotiabank lowered their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday. Finally, 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 report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of "Hold" and a consensus target price of $96.44.

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.