Schonfeld Strategic Advisors LLC Purchases 4,747 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Schonfeld Strategic Advisors LLC boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 38.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,063 shares of the technology infrastructure company's stock after acquiring an additional 4,747 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Akamai Technologies were worth $1,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AKAM. First Trust Advisors LP raised its holdings in 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 acquiring an additional 690,341 shares in the last quarter. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $477,454,000. Earnest Partners LLC lifted its stake in shares of Akamai Technologies by 2.7% during the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after buying an additional 58,013 shares during the last quarter. Nordea Investment Management AB grew its holdings in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock valued at $205,743,000 after buying an additional 138,380 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Akamai Technologies by 9.6% in the 4th 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 period. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AKAM. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Scotiabank reduced their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research note on Friday. Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Citigroup reduced their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $100.00 in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.26.

Insider Activity

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the sale, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at approximately $1,146,097.11. The trade was a 31.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the purchase, the chief executive officer now owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. The trade was a 37.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 35,321 shares of company stock worth $2,986,916 in the last three months. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Up 2.5%

Shares of NASDAQ AKAM traded up $1.89 during trading on Monday, reaching $78.14. The company had a trading volume of 738,765 shares, compared to its average volume of 1,921,335. The stock has a market cap of $11.42 billion, a P/E ratio of 23.88, a PEG ratio of 2.74 and a beta of 0.82. The company's fifty day moving average price is $78.85 and its 200-day moving average price is $89.26. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.64 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.