New England Research & Management Inc. Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

New England Research & Management Inc. bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 1st quarter, Holdings Channel.com reports. The fund bought 7,075 shares of the technology infrastructure company’s stock, valued at approximately $769,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AKAM. Paralel Advisors LLC increased its position in shares of Akamai Technologies by 1.2% in the 3rd quarter. Paralel Advisors LLC now owns 24,424 shares of the technology infrastructure company’s stock worth $2,602,000 after purchasing an additional 278 shares during the last quarter. Mariner LLC grew its position in shares of Akamai Technologies by 11.7% during the 3rd quarter. Mariner LLC now owns 23,657 shares of the technology infrastructure company’s stock valued at $2,520,000 after buying an additional 2,472 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Akamai Technologies by 104.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,934 shares of the technology infrastructure company’s stock valued at $632,000 after buying an additional 3,027 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Akamai Technologies during the 3rd quarter valued at about $691,000. Finally, CWA Asset Management Group LLC grew its position in shares of Akamai Technologies by 14.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 3,214 shares of the technology infrastructure company’s stock valued at $342,000 after buying an additional 416 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AKAM shares. Susquehanna lowered their price objective on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 10th. KeyCorp decreased their target price on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Piper Sandler decreased their target price on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Robert W. Baird decreased their target price on shares of Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Bank of America decreased their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.00.

Akamai Technologies Stock Up 0.2 %

AKAM stock opened at $90.08 on Friday. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The firm has a market cap of $13.72 billion, a PE ratio of 22.41, a P/E/G ratio of 4.31 and a beta of 0.68. The firm has a 50 day simple moving average of $94.11 and a 200 day simple moving average of $107.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The firm had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies announced that its board has initiated a share buyback plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the transaction, the director now directly owns 14,519 shares of the company’s stock, valued at approximately $1,358,107.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the transaction, the director now owns 14,519 shares of the company’s stock, valued at approximately $1,358,107.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the transaction, the executive vice president now directly owns 9,938 shares in the company, valued at approximately $929,998.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,000 shares of company stock valued at $826,460. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies 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.