Radnor Capital Management LLC Invests $242,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Radnor Capital Management LLC purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,400 shares of the technology infrastructure company’s stock, valued at approximately $242,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after acquiring an additional 124,359 shares during the period. Earnest Partners LLC increased its position in shares of Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after purchasing an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Akamai Technologies by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock worth $127,105,000 after purchasing an additional 14,347 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after purchasing an additional 222,290 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

AKAM stock opened at $104.40 on Friday. The business has a 50 day moving average price of $101.12 and a 200 day moving average price of $97.31. The stock has a market cap of $15.82 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.21 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. 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 (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last 90 days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AKAM. DA Davidson reissued a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. Scotiabank raised their price objective 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.