ExodusPoint Capital Management LP Buys New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

ExodusPoint Capital Management LP purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 98,870 shares of the technology infrastructure company’s stock, valued at approximately $9,457,000. ExodusPoint Capital Management LP owned approximately 0.07% of Akamai Technologies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AKAM. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the fourth quarter worth approximately $49,000. Van ECK Associates Corp grew its position in Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after purchasing an additional 910 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after purchasing an additional 46,335 shares during the period. Cascade Investment Advisors Inc. purchased a new stake in shares of Akamai Technologies in the fourth quarter valued at about $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth about $617,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several recent research reports. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Scotiabank cut their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Evercore ISI reissued an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Finally, Raymond James cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $106.55.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $73.69 on Friday. The business’s fifty day moving average price is $88.11 and its 200 day moving average price is $94.06. Akamai Technologies, Inc. has a twelve month low of $73.42 and a twelve month high of $107.60. 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 $11.08 billion, a P/E ratio of 22.60, a PEG ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last released 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 net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.