Systematic Financial Management LP Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Systematic Financial Management LP lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 52.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,910 shares of the technology infrastructure company’s stock after buying an additional 1,695 shares during the period. Systematic Financial Management LP’s holdings in Akamai Technologies were worth $442,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies during the 1st quarter worth approximately $31,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. Finally, Covestor Ltd raised its holdings in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a report on Monday, July 29th. Scotiabank boosted their price target on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $125.00 in a report on Friday, August 9th. Finally, Tigress Financial restated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,500 shares of company stock valued at $741,655. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $101.57 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a 50-day moving average of $98.55 and a two-hundred day moving average of $97.93. The stock has a market cap of $15.47 billion, a P/E ratio of 25.27, a PEG ratio of 3.23 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

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.