Akamai Technologies, Inc. $AKAM Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,422 shares of the technology infrastructure company’s stock after buying an additional 24,893 shares during the period. Penserra Capital Management LLC’s holdings in Akamai Technologies were worth $10,335,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Akamai Technologies by 295.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 336 shares of the technology infrastructure company’s stock worth $26,000 after purchasing an additional 251 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after acquiring an additional 195 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Akamai Technologies during the 3rd quarter worth about $30,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth $32,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Akamai Technologies by 497.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 400 shares of the technology infrastructure company’s stock valued at $30,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on AKAM shares. Royal Bank Of Canada boosted their price target on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Monday, January 5th. Scotiabank lifted their price target on shares of Akamai Technologies from $94.00 to $105.00 and gave the company a “sector outperform” rating in a report on Friday, January 9th. The Goldman Sachs Group lifted their price objective on shares of Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research report on Friday, November 7th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Akamai Technologies in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Hold” and an average price target of $96.11.

Akamai Technologies Trading Up 0.1%

Akamai Technologies stock opened at $91.92 on Thursday. The stock has a market cap of $13.22 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.32 and a beta of 0.70. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $104.97. The company’s fifty day simple moving average is $90.07 and its 200-day simple moving average is $82.14.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Edward J. Mcgowan sold 6,560 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $88.03, for a total transaction of $577,476.80. Following the completion of the transaction, the chief financial officer owned 16,442 shares of the company’s stock, valued at approximately $1,447,389.26. The trade was a 28.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $90.17, for a total transaction of $450,850.00. Following the completion of the sale, the executive vice president owned 17,513 shares in the company, valued at approximately $1,579,147.21. The trade was a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,318 shares of company stock valued at $2,890,254 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.