Connor Clark & Lunn Investment Management Ltd. Takes $617,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 6,448 shares of the technology infrastructure company’s stock, valued at approximately $617,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. Caprock Group LLC purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $252,000. Prospera Financial Services Inc purchased a new stake in Akamai Technologies during the third quarter worth about $209,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Akamai Technologies during the third quarter worth about $1,303,000. Advisors Asset Management Inc. increased its holdings in Akamai Technologies by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 14,018 shares of the technology infrastructure company’s stock worth $1,415,000 after buying an additional 354 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in Akamai Technologies during the third quarter worth about $345,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 over the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on AKAM shares. Evercore ISI restated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Akamai Technologies Price Performance

AKAM stock opened at $81.04 on Friday. The firm has a 50 day moving average of $90.58 and a 200-day moving average of $95.24. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.14. The firm has a market capitalization of $12.18 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.