Akamai Technologies, Inc. (NASDAQ:AKAM) Position Increased by Leeward Investments LLC MA

Leeward Investments LLC MA raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,953 shares of the technology infrastructure company’s stock after purchasing an additional 5,637 shares during the quarter. Leeward Investments LLC MA owned approximately 0.10% of Akamai Technologies worth $15,983,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of 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 buying an additional 97 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of Akamai Technologies by 6.4% during 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 in the last quarter. ORG Partners LLC lifted its stake in shares of Akamai Technologies by 16.7% in the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after purchasing an additional 100 shares during the last quarter. Private Trust Co. NA boosted its holdings in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in 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 buying an additional 108 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton acquired 22,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the transaction, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the transaction, the chief technology officer now owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO F Thomson Leighton acquired 22,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The disclosure for this purchase can be found here. In the last three months, insiders have sold 9,000 shares of company stock worth $826,460. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Down 0.5 %

NASDAQ AKAM traded down $0.49 during trading on Thursday, reaching $90.33. 739,019 shares of the stock traded hands, compared to its average volume of 1,517,265. The stock’s 50-day moving average price is $93.20 and its 200 day moving average price is $106.34. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 4.35 and a beta of 0.67. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results 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 firm had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies announced that its Board of Directors has approved a stock repurchase program on Thursday, May 9th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

AKAM has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. Robert W. Baird dropped their price objective on shares of Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Citigroup decreased their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. KeyCorp lowered their target price on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Finally, Piper Sandler cut their price target on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Akamai Technologies has a consensus rating of “Hold” and an average target price of $114.00.

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.