Distillate Capital Partners LLC Buys Shares of 156,865 Akamai Technologies, Inc. (NASDAQ:AKAM)

Distillate Capital Partners LLC purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 156,865 shares of the technology infrastructure company’s stock, valued at approximately $14,130,000. Distillate Capital Partners LLC owned 0.10% of Akamai Technologies as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new stake in Akamai Technologies in the second quarter worth $28,000. EntryPoint Capital LLC bought a new stake in Akamai Technologies in the first quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies during the second quarter valued at $35,000. Finally, Covestor Ltd grew its position in shares of Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $100.72 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The stock 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. The business has a 50-day moving average of $98.20 and a two-hundred day moving average of $98.20. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results 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. The company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on AKAM shares. Guggenheim raised 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 note on Monday, July 29th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. TD Cowen lifted their price objective 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. DA Davidson reissued a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the company’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 in the company, valued at approximately $2,216,186.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the business’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 sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last three months. 1.80% of the stock is currently owned by insiders.

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.