GAMMA Investing LLC Makes New $198,000 Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Planned Solutions Inc. purchased a new position in shares of Akamai Technologies during the 4th quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $44,000. Headinvest LLC purchased a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $40,000. Finally, Lindbrook Capital LLC grew its stake in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AKAM shares. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup lowered their price objective on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. Insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.4 %

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

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

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.