GAMMA Investing LLC Acquires Shares of 1,608 Akamai Technologies, Inc. (NASDAQ:AKAM)

GAMMA Investing LLC acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,608 shares of the technology infrastructure company’s stock, valued at approximately $198,000.

Other institutional investors also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $122,000. Caprock Group LLC purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $219,000. Oak Thistle LLC boosted its holdings in shares of Akamai Technologies by 24.8% in the third quarter. Oak Thistle LLC now owns 9,454 shares of the technology infrastructure company’s stock valued at $1,007,000 after acquiring an additional 1,881 shares in the last quarter. Czech National Bank boosted its holdings in shares of Akamai Technologies by 47.4% in the third quarter. Czech National Bank now owns 26,567 shares of the technology infrastructure company’s stock valued at $2,830,000 after acquiring an additional 8,549 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Akamai Technologies by 3.9% in the third quarter. Handelsbanken Fonder AB now owns 48,899 shares of the technology infrastructure company’s stock valued at $5,210,000 after acquiring an additional 1,856 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,353 shares of company stock worth $3,688,883. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $101.79 on Friday. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a 50 day moving average price of $107.12 and a 200 day moving average price of $112.30. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on AKAM shares. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Piper Sandler boosted their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup decreased their price objective on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Company 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.