V Square Quantitative Management LLC Purchases 612 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

V Square Quantitative Management LLC raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,321 shares of the technology infrastructure company’s stock after purchasing an additional 612 shares during the period. V Square Quantitative Management LLC’s holdings in Akamai Technologies were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Planned Solutions Inc. purchased a new position in Akamai Technologies during the fourth quarter valued at approximately $37,000. Headinvest LLC bought a new position in shares of Akamai Technologies in the 3rd quarter worth $40,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Akamai Technologies in the 4th quarter worth $43,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter worth $44,000. Finally, Lindbrook Capital LLC boosted its position in Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after purchasing an additional 125 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Royal Bank of Canada cut their price target on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a report on Friday, May 10th. Robert W. Baird decreased their price objective on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. Finally, TD Cowen reduced their target price on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.00.

Insider Transactions at Akamai Technologies

In related news, EVP Anthony P. Williams sold 5,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the sale, the executive vice president now owns 9,938 shares of the company’s stock, valued at $929,998.04. The disclosure for this sale can be found here. Insiders have sold a total of 32,243 shares of company stock valued at $3,441,153 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Performance

NASDAQ AKAM traded up $0.79 on Wednesday, reaching $95.29. 1,062,087 shares of the company’s stock traded hands, compared to its average volume of 1,742,714. The stock has a 50 day moving average price of $102.84 and a 200-day moving average price of $111.37. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 4.15 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Akamai Technologies, Inc. has a fifty-two week low of $86.31 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.03. The firm had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post 4.79 EPS for the current fiscal year.

Akamai Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.