Acadian Asset Management LLC Has $224,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Acadian Asset Management LLC decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 95.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,502 shares of the technology infrastructure company’s stock after selling 57,294 shares during the period. Acadian Asset Management LLC’s holdings in Akamai Technologies were worth $224,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC raised its stake in Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares during the period. Intech Investment Management LLC increased its holdings in shares of Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares during the last quarter. FIL Ltd raised its position in shares of Akamai Technologies by 14.5% in the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after purchasing an additional 186,124 shares during the period. Earnest Partners LLC lifted its stake in shares of Akamai Technologies by 7.6% during the 1st quarter. Earnest Partners LLC now owns 2,102,926 shares of the technology infrastructure company’s stock worth $228,714,000 after buying an additional 149,042 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Akamai Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $99.52 on Friday. The firm has a 50 day moving average of $98.02 and a 200-day moving average of $98.52. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $15.16 billion, a PE ratio of 24.75, a PEG ratio of 3.10 and a beta of 0.68.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 24th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Piper Sandler lowered their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,500 shares of company stock valued at $741,655. Corporate insiders own 1.80% of the company’s stock.

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.