New Age Alpha Advisors LLC Takes $9.89 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

New Age Alpha Advisors LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 103,386 shares of the technology infrastructure company’s stock, valued at approximately $9,889,000. New Age Alpha Advisors LLC owned 0.07% of Akamai Technologies as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. TCTC Holdings LLC boosted its stake in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the period. D.A. Davidson & CO. lifted its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after acquiring an additional 115 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of Akamai Technologies by 1.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after purchasing an additional 116 shares in the last quarter. Delta Capital Management LLC increased its position in shares of Akamai Technologies by 4.5% in the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after purchasing an additional 120 shares during the period. Finally, Tandem Investment Advisors Inc. raised its stake in Akamai Technologies by 0.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock valued at $2,879,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $81.56 on Friday. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a 50 day moving average price of $89.91 and a two-hundred day moving average price of $94.80. The firm has a market capitalization of $12.26 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.74 and a beta of 0.68.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on AKAM. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price for the company. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Citigroup lowered their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Insider Buying and Selling

In other news, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This represents a 30.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock worth $3,019,323. 2.00% of the stock is owned by company insiders.

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.