Rhumbline Advisers Buys 27,200 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Rhumbline Advisers lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,717 shares of the technology infrastructure company’s stock after purchasing an additional 27,200 shares during the quarter. Rhumbline Advisers owned about 0.19% of Akamai Technologies worth $27,099,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ancora Advisors LLC boosted its position in shares of Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. CX Institutional bought a new position in Akamai Technologies in the 2nd quarter valued at about $28,000. Karlinski Andrew C bought a new position in Akamai Technologies in the 1st quarter valued at about $30,000. Larson Financial Group LLC bought a new position in Akamai Technologies in the 2nd quarter valued at about $41,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Akamai Technologies in the 1st quarter valued at about $72,000. Institutional investors own 92.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Citigroup dropped their price target on shares of Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. Morgan Stanley dropped their price target on shares of Akamai Technologies from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 9th. DA Davidson decreased their price objective on shares of Akamai Technologies to $100.00 in a research note on Tuesday, November 15th. Finally, Piper Sandler decreased their price objective on shares of Akamai Technologies to $93.00 in a research note on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $112.93.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $80.79, for a total transaction of $121,185.00. Following the completion of the sale, the executive vice president now owns 31,183 shares in the company, valued at approximately $2,519,274.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the transaction, the chief technology officer now directly owns 9,835 shares of the company’s stock, valued at approximately $913,868.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total transaction of $121,185.00. Following the completion of the transaction, the executive vice president now directly owns 31,183 shares of the company’s stock, valued at $2,519,274.57. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Akamai Technologies Trading Up 0.2 %

Shares of AKAM stock opened at $91.92 on Thursday. The company has a 50 day moving average of $85.66 and a 200-day moving average of $91.26. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.54. Akamai Technologies, Inc. has a 12-month low of $76.28 and a 12-month high of $123.25. The firm has a market cap of $14.45 billion, a P/E ratio of 29.46, a PEG ratio of 1.82 and a beta of 0.71.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. Akamai Technologies had a net margin of 14.12% and a return on equity of 16.00%. The company had revenue of $881.90 million during the quarter, compared to analyst estimates of $875.99 million. During the same quarter last year, the business posted $1.20 EPS. Akamai Technologies’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.17 earnings per share for the current year.

Akamai Technologies Company Profile

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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

See Also

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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