Plato Investment Management Ltd Invests $118,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Plato Investment Management Ltd acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,088 shares of the technology infrastructure company’s stock, valued at approximately $118,000.

Other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Akamai Technologies during the first quarter worth $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies during the fourth quarter worth $43,000. Covestor Ltd raised its position in Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 310 shares in the last quarter. Lindbrook Capital LLC raised its position in Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position 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 worth $53,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the topic of several analyst reports. Susquehanna dropped their price target on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. KeyCorp dropped their price objective on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Scotiabank started coverage on shares of Akamai Technologies in a research report on Monday, July 8th. They issued a “sector outperform” rating and a $110.00 price objective on the stock. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective on the stock in a research report on Wednesday, July 24th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.44.

Insider Transactions at Akamai Technologies

In other news, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares of the company’s stock, valued at $929,998.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the transaction, the chief technology officer now owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,000 shares of company stock valued at $826,460. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Akamai Technologies stock traded down $2.84 during trading hours on Thursday, reaching $95.44. 1,223,709 shares of the stock were exchanged, compared to its average volume of 1,652,459. The company has a market cap of $14.54 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 4.69 and a beta of 0.67. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The stock has a 50 day moving average of $92.27 and a two-hundred day moving average of $103.24.

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

Akamai Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Akamai Technologies 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.