Oak Associates Ltd. OH Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Oak Associates Ltd. OH grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,694 shares of the technology infrastructure company’s stock after buying an additional 6,645 shares during the period. Akamai Technologies accounts for about 1.0% of Oak Associates Ltd. OH’s holdings, making the stock its 26th biggest holding. Oak Associates Ltd. OH’s holdings in Akamai Technologies were worth $14,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AKAM. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies during the fourth quarter worth $49,000. Bruce G. Allen Investments LLC grew its holdings in shares of Akamai Technologies by 38.8% during the 4th 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 period. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth about $57,000. TCTC Holdings LLC raised its holdings in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after buying an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its position in Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock valued at $68,000 after buying an additional 472 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This represents a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,394 shares of company stock worth $3,019,323 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 5.0 %

Shares of NASDAQ:AKAM opened at $72.56 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The firm’s 50 day moving average price is $84.76 and its 200 day moving average price is $92.92. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

AKAM has been the subject of a number of recent analyst reports. Susquehanna dropped their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Piper Sandler decreased their price target on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Scotiabank cut their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.55.

Akamai Technologies Company 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.