Elo Mutual Pension Insurance Co Has $1.25 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Elo Mutual Pension Insurance Co lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,904 shares of the technology infrastructure company’s stock after buying an additional 122 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Akamai Technologies were worth $1,252,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares during the period. Innealta Capital LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies during the first quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $35,000. Finally, Covestor Ltd boosted its stake in shares of Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 310 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction 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 directly owns 16,719 shares in the company, valued at $1,684,104.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $99.52 on Friday. The stock’s 50-day moving average is $98.02 and its 200-day moving average is $98.52. The stock has a market cap of $15.16 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year 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.

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, topping analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on AKAM. Scotiabank raised their price objective on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, July 29th. 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. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

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.