ExodusPoint Capital Management LP Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

ExodusPoint Capital Management LP purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,870 shares of the technology infrastructure company's stock, valued at approximately $9,457,000. ExodusPoint Capital Management LP owned 0.07% of Akamai Technologies at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AKAM. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies in the 4th quarter worth approximately $49,000. Van ECK Associates Corp grew its position in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after acquiring an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock worth $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new stake in Akamai Technologies during the fourth quarter valued at approximately $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Akamai Technologies during the fourth quarter valued at approximately $617,000. Institutional investors own 94.28% of the company's stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 4,652 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now owns 34,510 shares of the company's stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 over the last quarter. Company insiders own 1.80% of the company's stock.

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Akamai Technologies Price Performance

Shares of AKAM stock traded down $4.59 during midday trading on Thursday, reaching $71.76. 698,752 shares of the company traded hands, compared to its average volume of 1,907,559. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm's 50 day simple moving average is $85.27 and its two-hundred day simple moving average is $93.13. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $107.12. The firm has a market cap of $10.49 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup cut their target price on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Evercore ISI restated an "outperform" rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Piper Sandler reduced their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Scotiabank decreased their price target on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.55.

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.