7,922 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by Sciencast Management LP

Sciencast Management LP purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,922 shares of the technology infrastructure company's stock, valued at approximately $758,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $49,000. Charles Schwab Investment Management Inc. increased its holdings in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Van ECK Associates Corp increased its holdings in Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after purchasing an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Akamai Technologies by 32.6% in 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 purchasing an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $827,000. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Activity at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares in the company, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction 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 sale, the executive vice president now 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. In the last ninety days, insiders have sold 35,394 shares of company stock worth $3,019,323. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AKAM. Susquehanna decreased their price target on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price target on the stock. Evercore ISI reaffirmed an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.55.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.09 during trading on Thursday, reaching $81.56. 1,191,920 shares of the stock traded hands, compared to its average volume of 1,832,585. 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 stock has a market capitalization of $12.26 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The company has a 50-day moving average of $90.09 and a 200-day moving average of $94.90.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

About Akamai Technologies

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.