Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Robinson Value Management Ltd.

Robinson Value Management Ltd. raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,635 shares of the technology infrastructure company’s stock after acquiring an additional 181 shares during the period. Robinson Value Management Ltd.’s holdings in Akamai Technologies were worth $2,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AKAM. Janus Henderson Group PLC raised its stake in shares of Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after acquiring an additional 6,724 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Akamai Technologies by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after acquiring an additional 28,304 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Akamai Technologies by 17.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock valued at $20,132,000 after acquiring an additional 27,484 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $1,093,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $2,610,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AKAM. TD Cowen boosted their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Scotiabank upped their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Piper Sandler cut their target price on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Stock Down 1.1 %

Shares of Akamai Technologies stock traded down $1.13 during trading hours on Monday, hitting $105.54. The company had a trading volume of 450,747 shares, compared to its average volume of 1,599,490. The company’s 50-day moving average is $100.64 and its two-hundred day moving average is $97.38. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $16.08 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the prior year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,500 shares of company stock worth $741,655. Corporate insiders own 1.80% of the company’s stock.

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.