NEOS Investment Management LLC Raises Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

NEOS Investment Management LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,074 shares of the technology infrastructure company’s stock after buying an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in Akamai Technologies were worth $581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Akamai Technologies in the fourth quarter valued at about $49,000. Van ECK Associates Corp increased its position in shares of 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 valued at $263,000 after purchasing an additional 910 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares during the period. Cascade Investment Advisors Inc. purchased a new position in shares of Akamai Technologies in the fourth quarter worth approximately $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Akamai Technologies during the fourth quarter valued at approximately $617,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Down 1.9 %

Shares of AKAM stock opened at $80.05 on Monday. 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 $12.03 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $109.98. The stock’s 50-day moving average price is $89.69 and its 200-day moving average price is $94.68.

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

Wall Street Analysts Forecast Growth

AKAM has been the topic of several analyst reports. UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $112.00 to $100.00 in a research report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note 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. According to MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $106.55.

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value 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 approximately $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 over the last 90 days. 1.80% of the stock is owned by insiders.

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.