Radnor Capital Management LLC Purchases Shares of 2,400 Akamai Technologies, Inc. (NASDAQ:AKAM)

Radnor Capital Management LLC purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,400 shares of the technology infrastructure company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently modified their holdings of AKAM. Dimensional Fund Advisors LP increased its holdings in shares of Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Akamai Technologies by 19.6% during the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Akamai Technologies by 409.2% during the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after acquiring an additional 199,334 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Akamai Technologies during the second quarter valued at about $15,314,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after acquiring an additional 162,700 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.3 %

Shares of NASDAQ:AKAM opened at $104.40 on Friday. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68. 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 business’s 50 day moving average price is $101.12 and its 200-day moving average price is $97.31.

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

Analyst Ratings Changes

AKAM has been the topic of several recent analyst reports. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Piper Sandler cut their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Scotiabank increased their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.47.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $741,655 in the last quarter. Corporate insiders own 2.00% 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.