M&T Bank Corp Has $8.11 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

M&T Bank Corp boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,503 shares of the technology infrastructure company’s stock after buying an additional 116 shares during the quarter. M&T Bank Corp’s holdings in Akamai Technologies were worth $8,108,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Duality Advisers LP acquired a new stake in Akamai Technologies in the 4th quarter valued at $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Akamai Technologies in the 4th quarter valued at $1,184,000. RWA Wealth Partners LLC bought a new position in Akamai Technologies in the 4th quarter valued at $4,441,000. Quadrature Capital Ltd bought a new position in Akamai Technologies in the 3rd quarter valued at $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Akamai Technologies in the 4th quarter valued at $1,879,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.1 %

NASDAQ:AKAM opened at $99.67 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The business’s 50-day simple moving average is $106.23 and its 200-day simple moving average is $112.05. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The stock has a market capitalization of $15.10 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating 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 company had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares in the company, valued at $1,624,208.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,753 shares of company stock valued at $3,368,303. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AKAM shares. JPMorgan Chase & Co. lifted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.60.

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.