Rock Point Advisors LLC Has $4.67 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Rock Point Advisors LLC grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 59.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,951 shares of the technology infrastructure company's stock after purchasing an additional 21,716 shares during the period. Rock Point Advisors LLC's holdings in Akamai Technologies were worth $4,665,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AKAM. MassMutual Private Wealth & Trust FSB raised its holdings in Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after purchasing an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after buying an additional 234 shares in the last quarter. LRI Investments LLC grew its holdings in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares during the period. TCTC Holdings LLC raised its position in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after acquiring an additional 102 shares in the last quarter. Finally, Atlas Capital Advisors Inc. lifted its holdings in Akamai Technologies by 200.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after acquiring an additional 472 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Performance

AKAM stock traded down $1.19 during mid-day trading on Thursday, reaching $79.44. 1,138,417 shares of the stock traded hands, compared to its average volume of 2,077,767. The firm has a market capitalization of $11.61 billion, a PE ratio of 26.75, a P/E/G ratio of 2.55 and a beta of 0.77. The business has a 50-day moving average of $78.68 and a two-hundred day moving average of $84.05. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction 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 directly owned 43,575 shares in the company, valued at $3,326,079.75. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the transaction, the chief operating officer owned 10,809 shares of the company's stock, 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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Scotiabank dropped their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Piper Sandler restated a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen lowered Akamai Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price for the company. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus 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.