Vanguard Personalized Indexing Management LLC Raises Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Vanguard Personalized Indexing Management LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,953 shares of the technology infrastructure company’s stock after acquiring an additional 1,257 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Akamai Technologies were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $1,184,000. Duality Advisers LP bought a new position in shares of Akamai Technologies in the 4th quarter worth $476,000. RWA Wealth Partners LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $4,441,000. Quadrature Capital Ltd bought a new stake in shares of Akamai Technologies during the 3rd quarter worth $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Akamai Technologies in the fourth quarter worth $1,879,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton bought 22,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the transaction, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the sale, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at $929,998.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO F Thomson Leighton acquired 22,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the acquisition, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 32,243 shares of company stock valued at $3,441,153. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price target on Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Raymond James decreased their price objective on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. TD Cowen cut their target price on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley decreased their price target on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.00.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $96.56 on Friday. Akamai Technologies, Inc. has a 1-year low of $86.26 and a 1-year high of $129.17. The firm has a market cap of $14.71 billion, a P/E ratio of 24.10, a P/E/G ratio of 4.20 and a beta of 0.72. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $104.04 and a 200-day moving average of $111.60.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. During the same quarter last year, the business posted $1.01 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.79 EPS for the current year.

Akamai Technologies declared that its Board of Directors has initiated a stock buyback program on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.