DekaBank Deutsche Girozentrale Acquires 5,120 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

DekaBank Deutsche Girozentrale raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 522,670 shares of the technology infrastructure company’s stock after purchasing an additional 5,120 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.34% of Akamai Technologies worth $57,046,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the last quarter. Manchester Capital Management LLC raised its position in Akamai Technologies by 6.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock valued at $192,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC raised its position in shares of Akamai Technologies by 16.7% during the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after acquiring an additional 100 shares during the last quarter. Private Trust Co. NA raised its position in shares of Akamai Technologies by 17.9% during the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after acquiring an additional 108 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Akamai Technologies by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at $929,998.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the transaction, the director now directly owns 14,519 shares of the company’s stock, valued at $1,358,107.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the transaction, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at $929,998.04. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $826,460 over the last three months. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.9 %

NASDAQ:AKAM traded down $0.88 on Friday, reaching $94.56. The company’s stock had a trading volume of 1,220,591 shares, compared to its average volume of 1,248,534. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a market cap of $14.40 billion, a PE ratio of 23.52, a PEG ratio of 4.57 and a beta of 0.67. The business’s 50-day moving average price is $92.27 and its two-hundred day moving average price is $103.08. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. Akamai Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 9th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AKAM. Bank of America dropped their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Citigroup dropped their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Piper Sandler dropped their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Craig Hallum dropped their target price on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Finally, KeyCorp dropped their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.44.

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.