Sciencast Management LP Takes $758,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sciencast Management LP purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,922 shares of the technology infrastructure company’s stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AKAM. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $57,000. TCTC Holdings LLC grew its position in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $81.04 on Friday. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.14. The firm has a 50 day moving average of $90.58 and a 200-day moving average of $95.24. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.18 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 in the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 21st. Finally, Susquehanna decreased their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.55.

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.