Numerai GP LLC Buys Shares of 5,603 Akamai Technologies, Inc. (NASDAQ:AKAM)

Posted by Defense World Staff on Sep 10th, 2023

Numerai GP LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,603 shares of the technology infrastructure company’s stock, valued at approximately $439,000.

A number of other large investors also recently bought and sold shares of the stock. Ancora Advisors LLC increased its stake in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Belpointe Asset Management LLC purchased a new stake in Akamai Technologies during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in Akamai Technologies by 71.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 373 shares of the technology infrastructure company’s stock worth $31,000 after purchasing an additional 156 shares during the period. Dark Forest Capital Management LP increased its stake in Akamai Technologies by 524.7% during the first quarter. Dark Forest Capital Management LP now owns 556 shares of the technology infrastructure company’s stock worth $44,000 after purchasing an additional 467 shares during the period. Finally, Covestor Ltd increased its stake in Akamai Technologies by 50.1% during the first quarter. Covestor Ltd now owns 635 shares of the technology infrastructure company’s stock worth $76,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 91.40% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $104.68 on Friday. Akamai Technologies, Inc. has a 1-year low of $70.65 and a 1-year high of $107.47. The company has a market cap of $15.88 billion, a PE ratio of 35.36, a P/E/G ratio of 2.93 and a beta of 0.76. The stock has a fifty day moving average price of $97.52 and a 200 day moving average price of $87.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.00 and a quick ratio of 2.00.

Akamai Technologies (NASDAQ:AKAM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The technology infrastructure company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). Akamai Technologies had a net margin of 12.64% and a return on equity of 14.41%. The firm had revenue of $935.72 million during the quarter, compared to analysts’ expectations of $931.52 million. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.43 EPS for the current year.

Insider Activity

In related news, CEO F Thomson Leighton acquired 271 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $92.43 per share, for a total transaction of $25,048.53. Following the transaction, the chief executive officer now owns 90,643 shares in the company, valued at approximately $8,378,132.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO F Thomson Leighton acquired 271 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $92.43 per share, for a total transaction of $25,048.53. Following the transaction, the chief executive officer now owns 90,643 shares in the company, valued at approximately $8,378,132.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 10,500 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $95.00, for a total value of $997,500.00. Following the completion of the sale, the chief operating officer now directly owns 32,390 shares in the company, valued at $3,077,050. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,090 shares of company stock worth $100,176 and sold 37,088 shares worth $3,608,449. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AKAM. StockNews.com began coverage on shares of Akamai Technologies in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Royal Bank of Canada upped their target price on shares of Akamai Technologies from $85.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 9th. Robert W. Baird upped their target price on shares of Akamai Technologies from $94.00 to $108.00 in a research note on Thursday, August 10th. TheStreet upgraded shares of Akamai Technologies from a “c” rating to a “b-” rating in a research note on Thursday, August 10th. Finally, Citigroup increased their price target on shares of Akamai Technologies from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.41.

View Our Latest Stock Analysis on AKAM

Akamai Technologies Company Profile

(Free Report)

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.