Intech Investment Management LLC Raises Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Intech Investment Management LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 48,711 shares of the technology infrastructure company’s stock after acquiring an additional 5,670 shares during the quarter. Intech Investment Management LLC’s holdings in Akamai Technologies were worth $5,765,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Planned Solutions Inc. acquired a new position in Akamai Technologies in the 4th quarter valued at $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies during the 4th quarter valued at about $44,000. Headinvest LLC acquired a new stake in Akamai Technologies in the 3rd quarter valued at about $40,000. Finally, Lindbrook Capital LLC lifted its stake in Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the transaction, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the transaction, the executive vice president now directly owns 14,938 shares in the company, valued at $1,624,208.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,243 shares of company stock valued at $3,441,153. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.2 %

AKAM traded up $0.18 on Friday, hitting $94.14. 1,038,981 shares of the company were exchanged, compared to its average volume of 2,199,131. The firm has a 50-day moving average price of $102.27 and a two-hundred day moving average price of $111.17. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a twelve month low of $86.94 and a twelve month high of $129.17. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 4.42 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. During the same period in the previous year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Akamai Technologies, Inc. will post 4.47 earnings per share for the current year.

Akamai Technologies announced that its board has approved a share buyback program on Thursday, May 9th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna reduced their price objective on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. Craig Hallum lowered their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Bank of America cut their price objective on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. KeyCorp decreased 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, JPMorgan Chase & Co. raised their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 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.