Caxton Associates LP Purchases New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Caxton Associates LP bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,927 shares of the technology infrastructure company’s stock, valued at approximately $753,000.

Several other institutional investors have also recently added to or reduced their stakes in AKAM. EntryPoint Capital LLC bought a new stake in Akamai Technologies during the first quarter valued at $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies during the fourth quarter valued at $43,000. Covestor Ltd increased its stake in Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 310 shares during the last quarter. Lindbrook Capital LLC increased its stake in Akamai Technologies by 43.7% during the fourth 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. Finally, Quadrant Capital Group LLC increased its stake in Akamai Technologies by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton acquired 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the transaction, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO F Thomson Leighton purchased 22,000 shares of Akamai Technologies stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the transaction, the chief executive officer now directly owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the transaction, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at approximately $929,998.04. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock worth $826,460. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent research reports. TD Cowen lowered their price target on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Piper Sandler decreased their target price on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America lowered their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Scotiabank began coverage on shares of Akamai Technologies in a research note on Monday, July 8th. They set a “sector outperform” rating and a $110.00 target price on the stock. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.44.

Akamai Technologies Stock Up 0.6 %

AKAM opened at $97.88 on Wednesday. The company has a market capitalization of $14.91 billion, a P/E ratio of 24.35, a P/E/G ratio of 4.66 and a beta of 0.67. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The firm’s fifty day moving average price is $92.18 and its two-hundred day moving average price is $103.33.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. Akamai Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its board has authorized a share repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to buy up to 13.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.