Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by abrdn plc

abrdn plc raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 55.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,683 shares of the technology infrastructure company’s stock after acquiring an additional 22,774 shares during the quarter. abrdn plc’s holdings in Akamai Technologies were worth $7,537,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AKAM. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Akamai Technologies in the 4th quarter valued at about $1,184,000. Quadrature Capital Ltd purchased a new position in shares of Akamai Technologies in the 3rd quarter valued at about $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Akamai Technologies in the 4th quarter valued at about $1,879,000. Alpine Global Management LLC purchased a new position in shares of Akamai Technologies in the 3rd quarter valued at about $2,791,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Akamai Technologies in the 4th quarter valued at about $41,880,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,353 shares of company stock valued at $3,688,883. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.1 %

Shares of AKAM stock opened at $101.68 on Friday. 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 1 year low of $76.85 and a 1 year high of $129.17. The stock has a fifty day moving average of $106.97 and a two-hundred day moving average of $112.27. The firm has a market capitalization of $15.41 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent analyst reports. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Citigroup decreased their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Company 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.