Carnegie Investment Counsel Has $7.94 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Carnegie Investment Counsel boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 78,686 shares of the technology infrastructure company’s stock after acquiring an additional 3,033 shares during the period. Carnegie Investment Counsel owned 0.05% of Akamai Technologies worth $7,943,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AKAM. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 347,626 shares during the period. Champlain Investment Partners LLC grew its holdings in 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 acquiring an additional 222,290 shares during the period. Intech Investment Management LLC grew its holdings in Akamai Technologies by 409.2% during the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after acquiring an additional 199,334 shares during the period. FIL Ltd boosted its position in shares of Akamai Technologies by 14.5% during the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after purchasing an additional 186,124 shares in the last quarter. Finally, Empyrean Capital Partners LP bought a new position in shares of Akamai Technologies during the second quarter worth $15,314,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $741,655 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.8 %

Akamai Technologies stock opened at $104.22 on Friday. The firm has a market capitalization of $15.79 billion, a PE ratio of 25.80, a P/E/G ratio of 3.31 and a beta of 0.68. The company’s 50-day moving average is $99.59 and its 200-day moving average is $97.53. 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 debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the prior year, the business earned $1.01 EPS. Akamai Technologies’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of recent analyst reports. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. Piper Sandler reduced their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Scotiabank lifted their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.47.

About Akamai Technologies

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.