7,627 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Acquired by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,627 shares of the technology infrastructure company’s stock, valued at approximately $903,000.

Several other institutional investors have also recently modified their holdings of the stock. Duality Advisers LP purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $1,184,000. RWA Wealth Partners LLC purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $4,441,000. Quadrature Capital Ltd purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $1,879,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 0.8 %

Shares of Akamai Technologies stock traded down $0.85 during trading on Tuesday, reaching $100.93. The company had a trading volume of 1,691,028 shares, compared to its average volume of 1,603,773. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The firm’s fifty day moving average is $106.82 and its 200-day moving average is $112.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Piper Sandler boosted their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. KeyCorp boosted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $121.60.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s 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 owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold a total of 33,353 shares of company stock valued at $3,688,883 in the last quarter. Insiders own 2.00% of the company’s stock.

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.