Tobam owns $5.23M stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

VaselineOctober 10, 2024

0 4 minutes read

Tobam increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 1.2% in the third quarter, Holdings Channel.com reports. The firm owned 51,830 shares of the technology infrastructure company’s stock after acquiring an additional 606 shares during the period. Tobam’s holdings in Akamai Technologies were worth $5,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AKAM. Bridgefront Capital LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $577,000. FIL Ltd boosted its stake in Akamai Technologies by 14.5% in the 4th quarter. FIL Ltd now owns 1,472,311 shares of the infrastructure technology company’s stock worth $174,248,000 after purchasing an additional 186,124 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new stake in Akamai Technologies in the 4th quarter valued at approximately $212,000. GLOBALT Investments LLC GA purchased a new stake in Akamai Technologies in the 4th quarter valued at approximately $296,000. Finally, V Square Quantitative Management LLC boosted its stake in Akamai Technologies by 10.3% in the fourth quarter. V Square Quantitative Management LLC now owns 3,709 shares of the technology infrastructure company’s stock worth $439,000 after buying an additional 347 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s shares.

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 value of $389,200.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the director now 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 7,500 shares of company stock worth $741,655 in the last ninety days. 1.80% of shares are currently owned by insiders.

Analysts on Wall Street are forecasting an increase

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AKAM has been the subject of several recent analyst reports. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a report on Friday, 9 August. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Scotiabank boosted their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a 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 assigned a strong buy rating to the company. Akamai Technologies has a consensus rating of “Moderate Buy” and an average target price of $116.47, based on data from MarketBeat.com.

View the latest Akamai Technologies stock report

Akamai Technologies trading down 0.3%

AKAM traded down $0.28 during trading on Thursday, reaching $102.83. 277,894 shares of the company’s stock were exchanged, compared to its average volume of 1,609,941. Akamai Technologies, Inc. it has a one year low of $87.59 and a one year high of $129.17. The company has a current ratio of 1.32, a quick ratio of 1.32, and a debt-to-equity ratio of 0.50. The stock has a market cap of $15.66 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68. The firm has a fifty day moving average price of $99.24 and a two hundred day moving average price of $97.60.

Akamai Technologies (NASDAQ:AKAM – Get Your Free Report ) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping 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 firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same period in the previous year, the firm posted EPS of $1.01. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

About Akamai Technologies

(Free report)

Akamai Technologies, Inc provides cloud computing, security and content delivery services in the United States and internationally. The company provides cloud solutions to keep infrastructure, websites, applications, APIs and users safe from various cyber-attacks and online threats while enhancing performance.