Rock Point Advisors LLC Buys 21,716 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Rock Point Advisors LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 59.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,951 shares of the technology infrastructure company's stock after purchasing an additional 21,716 shares during the quarter. Rock Point Advisors LLC's holdings in Akamai Technologies were worth $4,665,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after purchasing an additional 690,341 shares in the last quarter. Norges Bank purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $477,454,000. Mackenzie Financial Corp increased its position in shares of Akamai Technologies by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock worth $232,198,000 after purchasing an additional 81,744 shares in the last quarter. Earnest Partners LLC increased its position in shares of Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after purchasing an additional 58,013 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of 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 worth $178,085,000 after purchasing an additional 163,472 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the company's stock in a transaction that occurred on 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 owned 10,809 shares in the company, valued at $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AKAM. KeyCorp began coverage on Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective on the stock. Morgan Stanley lowered their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Scotiabank lowered their price objective on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. UBS Group boosted 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. Finally, Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies presently has a consensus rating of "Hold" and a consensus price target of $101.25.

Akamai Technologies Price Performance

Akamai Technologies stock traded down $1.53 during mid-day trading on Friday, hitting $77.91. 545,974 shares of the company were exchanged, compared to its average volume of 2,071,730. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The business's 50 day simple moving average is $78.65 and its two-hundred day simple moving average is $83.93. The company has a market capitalization of $11.39 billion, a P/E ratio of 26.22, a PEG ratio of 2.55 and a beta of 0.77. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. Analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

About Akamai Technologies

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.