Siemens Fonds Invest GmbH Takes $2.46 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Siemens Fonds Invest GmbH acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,325 shares of the technology infrastructure company’s stock, valued at approximately $2,455,000.

A number of other institutional investors have also modified their holdings of the company. TCTC Holdings LLC grew its stake in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after buying an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Akamai Technologies by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after purchasing an additional 114 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in 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 grew its stake in Akamai Technologies by 4.5% during the 4th 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 in the last quarter. Finally, Tandem Investment Advisors Inc. grew its stake in Akamai Technologies by 0.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after purchasing an additional 140 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Up 2.0%

Akamai Technologies stock opened at $78.03 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. 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 company has a market capitalization of $11.41 billion, a P/E ratio of 23.94, a PEG ratio of 2.74 and a beta of 0.82. The stock has a 50-day simple moving average of $78.29 and a 200-day simple moving average of $88.59.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.64 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AKAM. Piper Sandler reissued a “neutral” rating and set a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. 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. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $103.26.

Insider Activity

In other news, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the sale, the chief operating officer now directly owns 10,809 shares of the company’s stock, valued at approximately $918,981.18. The trade was a 26.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following 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 represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,321 shares of company stock valued at $2,986,916. Insiders own 2.00% 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.