Healthcare of Ontario Pension Plan Trust Fund Invests $474,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,354 shares of the technology infrastructure company’s stock, valued at approximately $474,000.

Other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $205,000. Mutual Advisors LLC raised its position in shares of Akamai Technologies by 80.1% in the fourth quarter. Mutual Advisors LLC now owns 5,928 shares of the technology infrastructure company’s stock valued at $702,000 after buying an additional 2,637 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after buying an additional 97 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Akamai Technologies by 11.9% in the fourth quarter. Pacer Advisors Inc. now owns 13,064 shares of the technology infrastructure company’s stock valued at $1,546,000 after buying an additional 1,390 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Akamai Technologies by 21.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,671 shares of the technology infrastructure company’s stock valued at $316,000 after buying an additional 466 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the 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 sale, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Robert Blumofe sold 3,000 shares of the firm’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 transaction, the chief technology officer now owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were 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 directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $826,460 over the last 90 days. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AKAM. Bank of America lowered their price objective on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday. Scotiabank began coverage on shares of Akamai Technologies in a research report on Monday, July 8th. They set a “sector outperform” rating and a $110.00 price objective for the company. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $113.65.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $96.37 on Friday. The company has a quick ratio of 3.25, a current 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 market cap of $14.68 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 4.56 and a beta of 0.67. The company’s fifty day moving average is $92.03 and its 200 day moving average is $103.91.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The company had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

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