Charles Schwab Investment Management Inc. Acquires 8,880 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Charles Schwab Investment Management Inc. boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 838,541 shares of the technology infrastructure company’s stock after purchasing an additional 8,880 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of Akamai Technologies worth $99,241,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. acquired a new position in shares of Akamai Technologies during the 3rd quarter worth about $218,201,000. Los Angeles Capital Management LLC boosted its stake in shares of Akamai Technologies by 123.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock worth $78,439,000 after acquiring an additional 407,321 shares during the period. Hsbc Holdings PLC raised its stake in Akamai Technologies by 40.7% in the 3rd quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock valued at $84,387,000 after acquiring an additional 228,529 shares during the period. Canada Pension Plan Investment Board boosted its position in Akamai Technologies by 22.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after purchasing an additional 228,200 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Akamai Technologies by 17.6% in the third quarter. Retirement Systems of Alabama now owns 766,869 shares of the technology infrastructure company’s stock valued at $81,702,000 after purchasing an additional 114,777 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $91.19 on Monday. The stock has a market cap of $13.89 billion, a PE ratio of 22.68, a P/E/G ratio of 2.60 and a beta of 0.72. Akamai Technologies, Inc. has a 12-month low of $84.19 and a 12-month high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $105.30 and its two-hundred day moving average price is $111.93.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last released its quarterly earnings results 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 company had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that Akamai Technologies, Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares in the company, valued at $483,852.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,753 shares of company stock worth $3,368,303. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research analyst reports. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. JPMorgan Chase & Co. upped their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Bank of America dropped their price target on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a report on Friday. Craig Hallum lowered their price objective on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Raymond James decreased their price target on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Get Our Latest Research Report on Akamai Technologies

Akamai Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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