Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,343 shares of the technology infrastructure company's stock after acquiring an additional 30,638 shares during the quarter. Rhumbline Advisers owned 0.21% of Akamai Technologies worth $24,741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its stake in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after purchasing an additional 690,341 shares during the last quarter. Norges Bank purchased a new position in Akamai Technologies in the fourth quarter valued at about $477,454,000. Mackenzie Financial Corp grew its stake in Akamai Technologies by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock valued at $232,198,000 after purchasing an additional 81,744 shares during the last quarter. Earnest Partners LLC grew its stake in Akamai Technologies by 2.7% in the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock valued at $211,935,000 after purchasing an additional 58,013 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Akamai Technologies by 9.6% in 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. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Trading Up 1.2%

Shares of NASDAQ AKAM traded up $0.89 during mid-day trading on Friday, reaching $77.03. 1,601,454 shares of the company's stock were exchanged, compared to its average volume of 2,011,261. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company's 50-day moving average is $76.93 and its 200-day moving average is $86.72.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion during 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 revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 EPS. Analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp assumed coverage on Akamai Technologies in a research note on Friday. They set an "underweight" rating and a $63.00 price target on the stock. Susquehanna dropped their price target on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. Piper Sandler restated a "neutral" rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Finally, UBS Group boosted their price target on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.25.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now owns 34,510 shares of the company's stock, valued at $2,984,424.80. This trade represents a 11.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Karon sold 5,628 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.20, for a total value of $485,133.60. Following the completion of the sale, the chief operating officer now directly owns 24,597 shares in the company, valued at $2,120,261.40. This represents a 18.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,364 shares of company stock valued at $2,549,266. Corporate insiders own 2.00% of the company's stock.

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.