Oak Thistle LLC Acquires New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Oak Thistle LLC bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,678 shares of the technology infrastructure company's stock, valued at approximately $457,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. KLP Kapitalforvaltning AS raised its stake in Akamai Technologies by 2.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 50,906 shares of the technology infrastructure company's stock worth $4,098,000 after buying an additional 1,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Akamai Technologies during the 1st quarter worth approximately $49,000. Clifford Swan Investment Counsel LLC raised its stake in Akamai Technologies by 3.9% during the 1st quarter. Clifford Swan Investment Counsel LLC now owns 62,354 shares of the technology infrastructure company's stock worth $5,019,000 after buying an additional 2,315 shares during the period. HighPoint Advisor Group LLC raised its stake in Akamai Technologies by 3.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 5,364 shares of the technology infrastructure company's stock worth $434,000 after buying an additional 176 shares during the period. Finally, Private Advisor Group LLC raised its stake in Akamai Technologies by 31.1% during the 1st quarter. Private Advisor Group LLC now owns 8,563 shares of the technology infrastructure company's stock worth $689,000 after buying an additional 2,029 shares during the period. Institutional investors own 94.28% of the company's stock.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of the firm's 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 completion of the transaction, the chief operating officer directly owned 10,809 shares of the company's stock, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,084 shares of company stock valued at $1,726,847 over the last three months. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

NASDAQ AKAM traded up $0.04 on Friday, hitting $80.75. 2,285,053 shares of the stock traded hands, compared to its average volume of 1,273,619. The business's fifty day moving average is $78.31 and its two-hundred day moving average is $82.66. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.55 and a beta of 0.77. 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 (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business 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 earned $1.64 earnings per share. Akamai Technologies's revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AKAM. Wall Street Zen downgraded Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. UBS Group increased their price objective on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Scotiabank lowered their price objective on 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. Morgan Stanley lowered their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler reissued a "neutral" rating and issued a $88.00 price objective (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of "Hold" and a consensus price target of $101.25.

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.