Ensign Peak Advisors Inc Has $6.59 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ensign Peak Advisors Inc trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,867 shares of the technology infrastructure company’s stock after selling 380 shares during the period. Ensign Peak Advisors Inc’s holdings in Akamai Technologies were worth $6,587,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC lifted its holdings in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after acquiring an additional 114 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after acquiring an additional 116 shares in the last quarter. Delta Capital Management LLC raised its holdings in Akamai Technologies by 4.5% in the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock valued at $267,000 after acquiring an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock valued at $2,879,000 after acquiring an additional 140 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In related news, COO Adam Karon sold 3,927 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares in the company, valued at $918,981.18. This represents a 26.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now owns 23,988 shares in the company, valued at approximately $2,075,441.76. The trade was a 30.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,321 shares of company stock worth $2,986,916. Insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Up 0.2%

NASDAQ AKAM opened at $78.94 on Wednesday. The business’s 50-day moving average price is $78.69 and its two-hundred day moving average price is $89.03. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The firm has a market capitalization of $11.53 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Ratings Changes

AKAM has been the subject of several analyst reports. Royal Bank of Canada dropped their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Scotiabank dropped their price objective on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. Susquehanna dropped their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.26.

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.