Syon Capital LLC Invests $411,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Syon Capital LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,471 shares of the technology infrastructure company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Akamai Technologies by 1.8% during the 3rd quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock worth $223,554,000 after acquiring an additional 38,069 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in Akamai Technologies during the third quarter valued at approximately $218,201,000. Northern Trust Corp boosted its holdings in Akamai Technologies by 3.0% during the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock valued at $204,788,000 after purchasing an additional 56,782 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Akamai Technologies by 4.8% in the 3rd quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after purchasing an additional 82,364 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Akamai Technologies by 22.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after buying an additional 228,200 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $101.68 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.87 and a beta of 0.72. The stock has a 50-day moving average price of $106.97 and a 200 day moving average price of $112.27.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same period in the previous year, the firm posted $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on AKAM shares. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Citigroup cut their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Piper Sandler raised their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.60.

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.