Two Sigma Advisers LP Buys 15,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Two Sigma Advisers LP grew its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 23.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,900 shares of the technology infrastructure company's stock after acquiring an additional 15,000 shares during the quarter. Two Sigma Advisers LP owned 0.05% of Akamai Technologies worth $7,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in 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 acquiring an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after buying an additional 114 shares during the last quarter. Tandem Investment Advisors Inc. boosted its holdings in shares of Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after buying an additional 140 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Akamai Technologies by 1.2% in 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. Finally, HB Wealth Management LLC boosted its holdings in shares of Akamai Technologies by 5.5% in the 4th quarter. HB Wealth Management LLC now owns 3,102 shares of the technology infrastructure company's stock worth $297,000 after buying an additional 161 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded down $0.50 on Thursday, reaching $75.92. The stock had a trading volume of 331,146 shares, compared to its average volume of 2,002,487. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The company has a market cap of $11.10 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The business's 50 day moving average is $77.61 and its two-hundred day moving average is $87.30.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. Susquehanna cut their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, February 21st. UBS Group boosted their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. JPMorgan Chase & Co. cut their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Royal Bank of Canada cut their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.26.

Insider Transactions at Akamai Technologies

In other news, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares of the company's stock, valued at approximately $2,075,441.76. This represents a 30.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,478 shares of company stock valued at $3,991,190. 2.00% of the stock is currently owned by corporate insiders.

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.