Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 75.7% during the 3rd quarter, Holdings Channel reports. The fund owned 35,517 shares of the technology infrastructure company’s stock after acquiring an additional 15,303 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Akamai Technologies were worth $3,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Akamai Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after purchasing an additional 124,359 shares during the period. Nordea Investment Management AB lifted its stake in shares of Akamai Technologies by 1.1% in the 1st quarter. Nordea Investment Management AB now owns 2,935,648 shares of the technology infrastructure company’s stock worth $319,751,000 after acquiring an additional 32,000 shares during the period. Earnest Partners LLC boosted its holdings in shares of Akamai Technologies by 1.3% in the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after acquiring an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of Akamai Technologies by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after acquiring an additional 14,347 shares during the period. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

AKAM traded up $0.64 during trading on Monday, reaching $102.61. 95,692 shares of the company’s stock were exchanged, compared to its average volume of 1,588,268. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a market capitalization of $15.63 billion, a P/E ratio of 25.37, a PEG ratio of 3.31 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $100.99 and a 200 day moving average price of $97.23.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. As a group, analysts predict that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $741,655 in the last 90 days. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, Scotiabank boosted their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

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.