Los Angeles Capital Management LLC Has $107.98 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Los Angeles Capital Management LLC increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 912,409 shares of the technology infrastructure company’s stock after purchasing an additional 176,173 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.60% of Akamai Technologies worth $107,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Planned Solutions Inc. purchased a new position in Akamai Technologies during the 4th quarter worth approximately $37,000. Headinvest LLC acquired a new position in Akamai Technologies during the third quarter valued at $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies in the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies in the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC grew its stake in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of several research reports. Citigroup decreased their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Piper Sandler boosted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Stock Performance

Akamai Technologies stock traded down $1.52 on Thursday, reaching $99.37. 1,277,830 shares of the stock were exchanged, compared to its average volume of 1,589,854. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The firm has a fifty day moving average price of $106.55 and a two-hundred day moving average price of $112.16. The stock has a market cap of $15.06 billion, a PE ratio of 27.86, a PEG ratio of 2.85 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.10. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,753 shares of company stock valued at $3,368,303. 1.80% of the stock is owned by company insiders.

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.