Trust Investment Advisors Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Trust Investment Advisors acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,736 shares of the technology infrastructure company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Akamai Technologies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock worth $2,134,716,000 after purchasing an additional 254,437 shares during the last quarter. Geode Capital Management LLC increased its holdings in Akamai Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,549,920 shares of the technology infrastructure company’s stock worth $277,564,000 after purchasing an additional 47,727 shares during the last quarter. Legal & General Group Plc increased its holdings in Akamai Technologies by 5.7% during the 4th quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock worth $229,628,000 after purchasing an additional 147,339 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Akamai Technologies by 3.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,217,918 shares of the technology infrastructure company’s stock worth $186,970,000 after purchasing an additional 64,041 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Akamai Technologies by 59.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock worth $164,052,000 after purchasing an additional 785,055 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock valued at $3,688,883 in the last quarter. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Up 0.4 %

NASDAQ AKAM traded up $0.39 on Thursday, hitting $100.73. 1,388,091 shares of the stock were exchanged, compared to its average volume of 1,656,793. The company’s 50-day moving average price is $109.64 and its two-hundred day moving average price is $112.53. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 2.86 and a beta of 0.72. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The company had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Research analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AKAM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. KeyCorp boosted their price target on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. JPMorgan Chase & Co. boosted their price target on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Finally, Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.27.

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.