Machina Capital S.A.S. Buys New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Machina Capital S.A.S. purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,373 shares of the technology infrastructure company’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Duality Advisers LP bought a new stake in Akamai Technologies during the fourth quarter valued at $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Akamai Technologies during the 4th quarter valued at about $1,184,000. RWA Wealth Partners LLC acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $4,441,000. Quadrature Capital Ltd bought a new stake in Akamai Technologies in the third quarter worth approximately $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Akamai Technologies in the fourth quarter valued at approximately $1,879,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

AKAM traded up $1.41 during trading on Monday, hitting $101.08. 1,135,627 shares of the company traded hands, compared to its average volume of 1,594,061. The firm has a market cap of $15.32 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a one year low of $78.35 and a one year high of $129.17. The stock’s fifty day moving average is $106.23 and its 200 day moving average is $112.09.

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

Insider Activity

In related news, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold 30,753 shares of company stock valued at $3,368,303 in the last 90 days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of several research analyst reports. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Piper Sandler raised their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp upped their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

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.