Tandem Investment Advisors Inc. Raises Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Tandem Investment Advisors Inc. boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 29,956 shares of the technology infrastructure company’s stock after buying an additional 228 shares during the period. Tandem Investment Advisors Inc.’s holdings in Akamai Technologies were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AKAM. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares during the last quarter. EntryPoint Capital LLC bought a new position in Akamai Technologies during the 1st quarter valued at $31,000. Versant Capital Management Inc grew its holdings in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $28,000. Finally, Family Firm Inc. bought a new position in shares of Akamai Technologies during the second quarter worth about $35,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock valued at $741,655. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AKAM shares. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Wednesday, July 24th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Monday, July 29th. Finally, Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Stock Down 0.3 %

Shares of Akamai Technologies stock opened at $104.40 on Friday. The business has a fifty day simple moving average of $101.12 and a 200 day simple moving average of $97.31. The stock has a market cap of $15.82 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the previous year, the business posted $1.01 EPS. Akamai Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

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.