International Assets Investment Management LLC Takes $30.47 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

International Assets Investment Management LLC acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 30,184 shares of the technology infrastructure company’s stock, valued at approximately $30,470,000.

Several other large investors also recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in shares of Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after acquiring an additional 6,724 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Akamai Technologies by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after buying an additional 28,304 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Akamai Technologies by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock valued at $20,132,000 after buying an additional 27,484 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies in the first quarter valued at $1,093,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Akamai Technologies in the first quarter valued at $2,610,000. 94.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $741,655 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AKAM shares. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Monday, July 29th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. HSBC raised shares of 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. Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Trading Up 0.9 %

NASDAQ:AKAM opened at $102.85 on Tuesday. The business’s 50-day simple moving average is $101.02 and its 200-day simple moving average is $97.22. 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 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 $15.67 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Sell-side analysts expect 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.