2,294 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,294 shares of the technology infrastructure company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares during the period. Cibc World Markets Corp boosted its stake in Akamai Technologies by 131.6% in the 4th quarter. Cibc World Markets Corp now owns 19,433 shares of the technology infrastructure company’s stock worth $2,300,000 after purchasing an additional 11,044 shares during the period. Franklin Resources Inc. increased its holdings in Akamai Technologies by 190.3% during the 4th quarter. Franklin Resources Inc. now owns 73,579 shares of the technology infrastructure company’s stock worth $8,708,000 after purchasing an additional 48,236 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Akamai Technologies by 3.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock valued at $56,915,000 after purchasing an additional 15,890 shares during the period. Finally, TKG Advisors LLC acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $3,245,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 29th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Wednesday, July 24th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’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 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 SEC, which is available through the SEC website. In other Akamai Technologies 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 sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $741,655 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $100.72 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The firm’s 50-day moving average price is $98.20 and its 200-day moving average price is $98.20. The firm has a market capitalization of $15.34 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.10 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping 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 firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same period in the previous year, the company posted $1.01 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal 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.