X Square Capital LLC Boosts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

X Square Capital LLC boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,288 shares of the technology infrastructure company’s stock after buying an additional 658 shares during the period. X Square Capital LLC’s holdings in Akamai Technologies were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in Akamai Technologies during the first quarter worth $31,000. Versant Capital Management Inc lifted its holdings in Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC purchased a new stake in Akamai Technologies during the second quarter worth $28,000. Family Firm Inc. purchased a new stake in Akamai Technologies during the second quarter worth $35,000. Finally, Covestor Ltd lifted its holdings in Akamai Technologies by 224.6% during the first 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 period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 2.6 %

AKAM stock opened at $102.72 on Thursday. The company’s 50-day simple moving average is $100.92 and its 200-day simple moving average is $97.34. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The firm has a market cap of $15.65 billion, a P/E ratio of 25.55, a PEG ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. As a group, equities analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AKAM. Scotiabank upped their price target on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

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.