7,075 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by New England Research & Management Inc.

New England Research & Management Inc. bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,075 shares of the technology infrastructure company’s stock, valued at approximately $769,000.

Several other institutional investors have also recently made changes to their positions in AKAM. Raymond James Financial Services Advisors Inc. increased its holdings in Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after purchasing an additional 97 shares during the period. Manchester Capital Management LLC increased its holdings in Akamai Technologies by 6.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after purchasing an additional 97 shares during the period. ORG Partners LLC increased its holdings in Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after purchasing an additional 100 shares during the period. Private Trust Co. NA increased its holdings in Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Akamai Technologies by 0.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $90.08 on Friday. The stock has a 50-day moving average of $94.11 and a two-hundred day moving average of $107.10. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The stock has a market cap of $13.72 billion, a P/E ratio of 22.41, a P/E/G ratio of 4.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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 business had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, research analysts predict that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its board has approved a share repurchase plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in outstanding 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 usually a sign that the company’s board believes its stock is undervalued.

Insider Activity 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 other news, EVP Anthony P. Williams sold 5,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the sale, the director now owns 14,519 shares of the company’s stock, valued at $1,358,107.26. The disclosure for this sale can be found here. Insiders sold a total of 9,000 shares of company stock worth $826,460 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. Robert W. Baird cut their price target on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada cut their price target on Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a report on Friday, May 10th. Susquehanna cut their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, May 17th. Finally, Craig Hallum cut their price target on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Hold” and an average target price of $114.00.

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.