New Age Alpha Advisors LLC Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

New Age Alpha Advisors LLC purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,386 shares of the technology infrastructure company’s stock, valued at approximately $9,889,000.

Several other hedge funds also recently bought and sold shares of AKAM. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the 4th quarter valued at $49,000. Van ECK Associates Corp boosted its position in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after acquiring an additional 910 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares in the last quarter. Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $827,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after purchasing an additional 29,888 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. The trade was a 11.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

AKAM opened at $81.56 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $89.91 and a two-hundred day simple moving average of $94.80. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.14.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Oppenheimer began coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price objective on the stock. Susquehanna reduced their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

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.