TD Asset Management Inc Has $4.56 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Key Points

• TD Asset Management Inc reduced its stake in Akamai Technologies, Inc. by 17.0%, selling 11,624 shares, and now holds 56,604 shares valued at approximately $4.56 million.
• Akamai reported a quarterly earnings per share (EPS) of $1.70, exceeding the consensus estimate of $1.58, with revenues reaching $1.02 billion.
• Wall Street analysts have mixed views on Akamai, with price targets ranging from $63.00 to $105.00, and an average rating of "Hold".

TD Asset Management Inc lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,604 shares of the technology infrastructure company's stock after selling 11,624 shares during the quarter. TD Asset Management Inc's holdings in Akamai Technologies were worth $4,557,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Akamai Technologies by 101.4% in the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock valued at $384,000 after purchasing an additional 2,022 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $9,457,000. Atlas Capital Advisors Inc. raised its stake in shares of 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 purchasing an additional 472 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $381,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $6,021,000. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business'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 value of $333,873.54. Following the sale, 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. Insiders sold a total of 22,084 shares of company stock worth $1,726,847 over the last quarter. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AKAM. UBS Group lifted their price target on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Piper Sandler reissued a "neutral" rating and issued a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Wall Street Zen downgraded Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Scotiabank lowered their target price on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 9th. Finally, Morgan Stanley dropped their target price on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Akamai Technologies has a consensus rating of "Hold" and an average price target of $99.84.

Akamai Technologies Stock Performance

Akamai Technologies stock traded up $1.12 during midday trading on Monday, reaching $75.50. 1,681,061 shares of the company's stock were exchanged, compared to its average volume of 1,405,293. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.35 and a beta of 0.76. The stock's 50-day simple moving average is $78.38 and its 200 day simple moving average is $82.08.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $1.64 earnings per share. Akamai Technologies's quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.