NEOS Investment Management LLC Acquires 1,238 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

NEOS Investment Management LLC increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,074 shares of the technology infrastructure company’s stock after acquiring an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in Akamai Technologies were worth $581,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB increased its stake in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after buying an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after buying an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares during the period. Finally, Retirement Systems of Alabama grew its stake in Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock worth $87,188,000 after acquiring an additional 74,373 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of research reports. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. Oppenheimer began coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price for the company. UBS Group started coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a report on Friday, February 21st. Finally, Susquehanna dropped their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

Insider Activity at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

AKAM opened at $80.05 on Monday. The firm’s 50-day moving average price is $89.69 and its 200-day moving average price is $94.68. The company has a market cap of $12.03 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. 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, Inc. has a 52-week low of $75.50 and a 52-week high of $109.98.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.