Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Raised by Czech National Bank

Czech National Bank raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 26,539 shares of the technology infrastructure company’s stock after purchasing an additional 121 shares during the period. Czech National Bank’s holdings in Akamai Technologies were worth $2,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AKAM. Paralel Advisors LLC grew its position in shares of Akamai Technologies by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 24,424 shares of the technology infrastructure company’s stock valued at $2,602,000 after buying an additional 278 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Akamai Technologies in the 3rd quarter worth about $1,048,000. Mariner LLC grew its position in Akamai Technologies by 11.7% in the 3rd quarter. Mariner LLC now owns 23,657 shares of the technology infrastructure company’s stock worth $2,520,000 after purchasing an additional 2,472 shares during the last quarter. Northern Trust Corp grew its position in Akamai Technologies by 3.0% in the 3rd quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock worth $204,788,000 after purchasing an additional 56,782 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in Akamai Technologies by 6,424.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 17,095 shares of the technology infrastructure company’s stock worth $1,821,000 after purchasing an additional 16,833 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the transaction, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the transaction, the director now owns 14,519 shares in the company, valued at $1,358,107.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00. Following the transaction, the chief technology officer now owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $826,460 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Bank of America decreased 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 report on Friday, May 10th. Royal Bank of Canada decreased their target price on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating for the company in a research report on Friday, May 10th. Craig Hallum reduced their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Finally, Piper Sandler reduced their price target on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Two 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. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $114.00.

Akamai Technologies Stock Down 0.5 %

Akamai Technologies stock opened at $88.92 on Friday. The stock has a market capitalization of $13.54 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 4.15 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $86.94 and a twelve month high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $95.33 and a 200-day moving average of $108.00.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.03. The company 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.47 EPS for the current fiscal year.

Akamai Technologies declared that its Board of Directors has approved a stock buyback program on Thursday, May 9th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology infrastructure company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.