Duality Advisers LP Invests $476,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Duality Advisers LP acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,022 shares of the technology infrastructure company’s stock, valued at approximately $476,000.

Other institutional investors also recently made changes to their positions in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $1,184,000. Quadrature Capital Ltd acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $1,879,000. Alpine Global Management LLC acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $2,791,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $41,880,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.4 %

Shares of NASDAQ:AKAM opened at $101.79 on Friday. The company has a fifty day moving average of $107.12 and a 200-day moving average of $112.30. The company has a market capitalization of $15.42 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. On average, equities analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AKAM. Citigroup dropped their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. KeyCorp lifted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.60.

Insider Buying and Selling

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 over the last 90 days. 1.80% of the stock is owned by 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.