Tandem Investment Advisors Inc. Buys 228 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tandem Investment Advisors Inc. lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,956 shares of the technology infrastructure company’s stock after buying an additional 228 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Akamai Technologies were worth $3,024,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AKAM. Janus Henderson Group PLC lifted its position in Akamai Technologies by 19.6% during the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after acquiring an additional 6,724 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Akamai Technologies by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after buying an additional 28,304 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Akamai Technologies by 17.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock worth $20,132,000 after buying an additional 27,484 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the first quarter valued at approximately $1,093,000. Finally, Quadrature Capital Ltd acquired a new stake in Akamai Technologies during the first quarter worth approximately $2,610,000. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’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 of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $104.40 on Friday. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $101.12 and a two-hundred day moving average price of $97.31. The firm has a market capitalization of $15.82 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.21 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AKAM shares. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.47.

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.