AXQ Capital LP Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

AXQ Capital LP purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,815 shares of the technology infrastructure company’s stock, valued at approximately $365,000.

Other hedge funds have also bought and sold shares of the company. Caprock Group LLC bought a new stake in shares of Akamai Technologies in the 3rd quarter worth about $252,000. Prospera Financial Services Inc bought a new stake in shares of Akamai Technologies in the 3rd quarter worth about $209,000. Advisors Asset Management Inc. increased its holdings in shares of Akamai Technologies by 2.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,018 shares of the technology infrastructure company’s stock worth $1,415,000 after buying an additional 354 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Akamai Technologies in the 3rd quarter worth about $345,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AKAM shares. Susquehanna reduced their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Friday, February 21st. Finally, Citigroup cut their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Insider Activity

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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

NASDAQ AKAM opened at $81.04 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm’s 50 day moving average price is $90.58 and its 200-day moving average price is $95.21. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The company has a market cap of $12.18 billion, a PE ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68.

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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.