Meiji Yasuda Asset Management Co Ltd. Has $417,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,628 shares of the technology infrastructure company’s stock after purchasing an additional 433 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Akamai Technologies were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Garrison Asset Management LLC grew its position in shares of Akamai Technologies by 0.6% during the 2nd quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock worth $1,915,000 after buying an additional 120 shares during the period. Czech National Bank grew its holdings in Akamai Technologies by 0.5% during the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after purchasing an additional 121 shares during the period. Wahed Invest LLC increased its stake in Akamai Technologies by 5.0% in the fourth quarter. Wahed Invest LLC now owns 2,547 shares of the technology infrastructure company’s stock valued at $301,000 after purchasing an additional 122 shares in the last quarter. X Square Capital LLC raised its holdings in Akamai Technologies by 4.9% in the second quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock worth $237,000 after purchasing an additional 122 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Akamai Technologies by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $99.52 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50 day simple moving average of $98.02 and a two-hundred day simple moving average of $98.52. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a market capitalization of $15.16 billion, a PE ratio of 24.75, a P/E/G ratio of 3.10 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

AKAM has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. TD Cowen lifted their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Wednesday, July 24th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now 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 available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares in the company, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.