Praxis Investment Management Inc. Buys New Shares in Akamai Technologies, Inc. (NASDAQ:AKAM)

Praxis Investment Management Inc. bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,980 shares of the technology infrastructure company's stock, valued at approximately $723,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AKAM. TCTC Holdings LLC lifted its position in shares of Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock valued at $1,912,000 after buying an additional 114 shares in the last quarter. M&T Bank Corp lifted its holdings in Akamai Technologies by 1.2% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after acquiring an additional 155 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company's stock worth $86,000 after acquiring an additional 174 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AKAM shares. Oppenheimer assumed coverage on Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price on the stock. Morgan Stanley cut their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. UBS Group boosted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. KeyCorp initiated coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price on the stock. Finally, Piper Sandler reissued a "neutral" rating and issued a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Two equities research 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $101.25.

Akamai Technologies Trading Down 0.4%

Shares of AKAM stock opened at $78.38 on Friday. The company has a market capitalization of $11.46 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The business's 50 day moving average is $77.80 and its two-hundred day moving average is $85.58. 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 posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. Equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction dated Tuesday, May 27th. The shares were 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 now owns 43,575 shares in the company, valued at $3,326,079.75. This trade represents a 23.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares in the company, valued at approximately $918,981.18. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.

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