Boston Trust Walden Corp Acquires 6,910 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Boston Trust Walden Corp grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,078 shares of the technology infrastructure company’s stock after buying an additional 6,910 shares during the period. Boston Trust Walden Corp’s holdings in Akamai Technologies were worth $22,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AKAM. Versant Capital Management Inc raised its position in shares of Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Akamai Technologies in the 1st quarter worth about $31,000. Covestor Ltd raised its position in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares during the last quarter. Lindbrook Capital LLC raised its position in Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Akamai Technologies by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 129 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

AKAM stock traded down $0.36 during midday trading on Friday, hitting $100.50. The company’s stock had a trading volume of 1,082,384 shares, compared to its average volume of 1,704,448. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 4.57 and a beta of 0.67. The company has a 50 day moving average of $93.46 and a two-hundred day moving average of $101.21.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies announced that its board has initiated a share repurchase plan on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

AKAM has been the subject of a number of recent analyst reports. DA Davidson reissued a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. TD Cowen boosted their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Piper Sandler reduced their price target 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. Finally, Susquehanna reduced their price target on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the transaction, the director now owns 14,519 shares in the company, valued at $1,358,107.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the transaction, the director now owns 14,519 shares in the company, valued at approximately $1,358,107.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the transaction, the chief technology officer now directly 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 have sold 6,500 shares of company stock worth $610,285. Company insiders own 1.80% of the company’s stock.

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.