Chickasaw Capital Management LLC Buys New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Chickasaw Capital Management LLC purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,000 shares of the technology infrastructure company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Akamai Technologies by 32.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company’s stock worth $3,111,000 after acquiring an additional 7,484 shares in the last quarter. Tobam increased its position in Akamai Technologies by 1.2% during the third quarter. Tobam now owns 51,830 shares of the technology infrastructure company’s stock worth $5,232,000 after buying an additional 606 shares during the period. Eagle Wealth Strategies LLC acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $276,000. GAMMA Investing LLC grew its position in shares of Akamai Technologies by 85.2% during the third quarter. GAMMA Investing LLC now owns 2,852 shares of the technology infrastructure company’s stock worth $288,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company’s stock valued at $3,116,000 after acquiring an additional 1,842 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AKAM has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Wednesday, July 24th. DA Davidson reissued a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Scotiabank increased their price target on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Trading Up 0.8 %

Shares of NASDAQ AKAM traded up $0.80 on Friday, reaching $104.22. 989,067 shares of the company traded hands, compared to its average volume of 1,609,247. The stock has a market capitalization of $15.79 billion, a PE ratio of 25.80, a P/E/G ratio of 3.31 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $99.59 and a 200 day moving average of $97.61.

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

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $741,655 over the last three months. 1.80% of the stock is owned by insiders.

About Akamai Technologies

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.