Leeward Investments LLC MA Acquires 5,637 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Leeward Investments LLC MA boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% during the first quarter, HoldingsChannel reports. The fund owned 146,953 shares of the technology infrastructure company’s stock after purchasing an additional 5,637 shares during the quarter. Leeward Investments LLC MA’s holdings in Akamai Technologies were worth $15,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Akamai Technologies in the fourth quarter worth $325,242,000. Jericho Capital Asset Management L.P. acquired a new stake in Akamai Technologies during the 3rd quarter valued at approximately $218,201,000. Earnest Partners LLC raised its holdings in Akamai Technologies by 4.8% during the 3rd quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock worth $190,981,000 after purchasing an additional 82,364 shares during the last quarter. FIL Ltd lifted its position in shares of Akamai Technologies by 14.5% in the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after purchasing an additional 186,124 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Akamai Technologies by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,339,978 shares of the technology infrastructure company’s stock valued at $158,596,000 after purchasing an additional 146,778 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton bought 22,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the purchase, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the transaction, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton acquired 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the acquisition, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 9,000 shares of company stock worth $826,460. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AKAM. Bank of America lowered their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Susquehanna cut their target price on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. Robert W. Baird lowered their target price on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Piper Sandler reduced their price objective on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, TD Cowen dropped their target price on shares of 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 investment analysts have rated the stock with a sell rating, seven have assigned 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, Akamai Technologies currently has an average rating of “Hold” and a consensus price target of $114.00.

Akamai Technologies Stock Down 0.5 %

Akamai Technologies stock traded down $0.49 during trading on Thursday, hitting $90.33. 739,019 shares of the company were exchanged, compared to its average volume of 1,517,265. The company has a market capitalization of $13.76 billion, a P/E ratio of 22.47, a PEG ratio of 4.35 and a beta of 0.67. The business’s 50 day moving average is $93.20 and its 200 day moving average is $106.34. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76.

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, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The firm had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies declared that its board has approved a stock repurchase plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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.