Bryn Mawr Capital Management LLC Acquires 5,764 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Bryn Mawr Capital Management LLC grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 243.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,133 shares of the technology infrastructure company’s stock after purchasing an additional 5,764 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Akamai Technologies were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Mackenzie Financial Corp raised its position in shares of Akamai Technologies by 1.8% in the 3rd quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock valued at $223,554,000 after acquiring an additional 38,069 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at approximately $218,201,000. Northern Trust Corp raised its position in shares of Akamai Technologies by 3.0% in the 3rd quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock valued at $204,788,000 after acquiring an additional 56,782 shares during the period. Earnest Partners LLC raised its position in shares of Akamai Technologies by 4.8% in the 3rd quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after acquiring an additional 82,364 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Akamai Technologies by 22.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after buying an additional 228,200 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

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

Analyst Ratings Changes

Several analysts have commented on AKAM shares. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. KeyCorp raised their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Stock Down 0.1 %

AKAM opened at $101.68 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week 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 market capitalization of $15.41 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.87 and a beta of 0.72. The stock has a fifty day moving average of $106.97 and a 200-day moving average of $112.27.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company 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 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current 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.