Maxi Investments CY Ltd Boosts Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Maxi Investments CY Ltd increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,431 shares of the technology infrastructure company’s stock after purchasing an additional 2,661 shares during the quarter. Maxi Investments CY Ltd’s holdings in Akamai Technologies were worth $1,886,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV increased its position in Akamai Technologies by 94.5% during the first quarter. ING Groep NV now owns 24,282 shares of the technology infrastructure company’s stock worth $1,955,000 after buying an additional 11,795 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Akamai Technologies during the first quarter worth approximately $330,000. Tredje AP fonden increased its position in Akamai Technologies by 114.5% during the first quarter. Tredje AP fonden now owns 364,177 shares of the technology infrastructure company’s stock worth $29,316,000 after buying an additional 194,400 shares during the period. Banque Cantonale Vaudoise acquired a new position in Akamai Technologies during the first quarter worth approximately $3,476,000. Finally, Federated Hermes Inc. increased its position in Akamai Technologies by 346.9% during the first quarter. Federated Hermes Inc. now owns 1,953 shares of the technology infrastructure company’s stock worth $157,000 after buying an additional 1,516 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 1.5%

Shares of AKAM stock opened at $75.50 on Tuesday. The business’s fifty day moving average price is $78.37 and its 200 day moving average price is $81.97. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The firm has a market capitalization of $11.04 billion, a PE ratio of 25.42, a P/E/G ratio of 2.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. 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 prior year, the company posted $1.64 earnings per share. Akamai Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on AKAM shares. Scotiabank cut their price target on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Piper Sandler reissued a “neutral” rating and issued a $88.00 target price (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Morgan Stanley dropped their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. KeyCorp started coverage on Akamai Technologies in a report on Friday, June 6th. They issued an “underweight” rating and a $63.00 target price on the stock. Finally, UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.84.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president directly owned 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the sale, the chief operating officer owned 10,809 shares in the company, valued at approximately $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,084 shares of company stock worth $1,726,847. 2.00% of the stock is owned by corporate 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.