AXQ Capital LP Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

AXQ Capital LP purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,815 shares of the technology infrastructure company’s stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies in the fourth quarter worth $49,000. Bruce G. Allen Investments LLC raised its holdings in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies during the fourth quarter worth $57,000. TCTC Holdings LLC raised its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.6 %

Shares of NASDAQ AKAM opened at $81.04 on Monday. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The company’s 50-day simple moving average is $90.58 and its 200-day simple moving average is $95.21. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on AKAM shares. Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $125.00 to $98.00 in a report on Friday, February 21st. UBS Group began coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Insider Buying and Selling

In related news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock worth $3,019,323. 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.