Distillate Capital Partners LLC Acquires Shares of 160,452 Akamai Technologies, Inc. (NASDAQ:AKAM)

Distillate Capital Partners LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 160,452 shares of the technology infrastructure company's stock, valued at approximately $15,347,000. Distillate Capital Partners LLC owned approximately 0.11% of Akamai Technologies at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC increased its holdings in 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 bought a new stake in Akamai Technologies during the 4th quarter valued at $57,000. TCTC Holdings LLC lifted its holdings in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after buying an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. increased its stake in shares of Akamai Technologies by 200.0% during 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 period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded up $0.36 during midday trading on Tuesday, reaching $74.51. The company's stock had a trading volume of 936,724 shares, compared to its average volume of 1,918,400. The firm has a market capitalization of $10.89 billion, a PE ratio of 22.86, a P/E/G ratio of 2.74 and a beta of 0.80. The stock has a fifty day moving average of $83.21 and a 200 day moving average of $92.38. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

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Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Ratings Changes

AKAM has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective on the stock. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a report on Friday, February 21st. Piper Sandler dropped their target price on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of "Moderate Buy" and an average price target of $105.55.

Insider Buying and Selling

In related news, COO Adam Karon sold 5,628 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.20, for a total value of $485,133.60. Following the completion of the transaction, the chief operating officer now owns 24,597 shares of the company's stock, valued at approximately $2,120,261.40. This represents a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock valued at $3,019,323. Corporate insiders own 1.80% of the company's stock.

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.