Duality Advisers LP Invests $476,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Duality Advisers LP purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,022 shares of the technology infrastructure company’s stock, valued at approximately $476,000.

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

Akamai Technologies Trading Down 0.4 %

NASDAQ:AKAM opened at $101.79 on Friday. The company has a 50-day moving average price of $107.12 and a 200-day moving average price of $112.30. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 28.84, a P/E/G ratio of 2.87 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $999.09 million. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AKAM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Citigroup reduced their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Piper Sandler increased their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.60.

Insider Transactions at Akamai Technologies

In other 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 directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 33,353 shares of company stock valued at $3,688,883. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Company 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.