Tandem Investment Advisors Inc. Acquires 1,376 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tandem Investment Advisors Inc. boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,472 shares of the technology infrastructure company’s stock after acquiring an additional 1,376 shares during the period. Tandem Investment Advisors Inc.’s holdings in Akamai Technologies were worth $2,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after acquiring an additional 690,341 shares in the last quarter. Norges Bank purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at about $477,454,000. Mackenzie Financial Corp raised its position in shares of Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after purchasing an additional 81,744 shares during the last quarter. Earnest Partners LLC raised its position in shares of Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock valued at $211,935,000 after purchasing an additional 58,013 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Akamai Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock valued at $178,085,000 after purchasing an additional 163,472 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AKAM. Morgan Stanley decreased their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an “underweight” rating and a $63.00 target price for the company. Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price for the company. Finally, Scotiabank cut their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.25.

Insider Activity at Akamai Technologies

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president directly owned 43,575 shares in the company, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the sale, the chief operating officer directly owned 10,809 shares of the company’s stock, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Down 0.2%

Shares of NASDAQ:AKAM opened at $79.46 on Thursday. The firm’s 50 day moving average price is $78.72 and its 200 day moving average price is $84.60. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. 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 quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM) last issued 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. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. As a group, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.