Farringdon Capital Ltd. Purchases New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Farringdon Capital Ltd. bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,997 shares of the technology infrastructure company’s stock, valued at approximately $574,000.

Several other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC grew its position in 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 buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $57,000. TCTC Holdings LLC increased its stake in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after acquiring an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. raised its holdings in Akamai Technologies by 200.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock valued at $68,000 after acquiring an additional 472 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 0.5 %

NASDAQ AKAM opened at $73.46 on Friday. The business’s 50-day moving average price is $82.12 and its two-hundred day moving average price is $92.06. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $10.73 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80.

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

Wall Street Analyst Weigh In

AKAM has been the subject of a number of analyst reports. Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Morgan Stanley cut their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday. Scotiabank decreased their price target on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was 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. This represents a 13.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction on 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 sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,394 shares of company stock valued at $2,653,043. Corporate insiders own 1.80% of the company’s stock.

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.