Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Baird Financial Group Inc.

Baird Financial Group Inc. boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,252 shares of the technology infrastructure company’s stock after buying an additional 1,005 shares during the period. Baird Financial Group Inc.’s holdings in Akamai Technologies were worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the 4th quarter worth approximately $49,000. Van ECK Associates Corp lifted its stake in shares of Akamai Technologies by 49.6% during the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after buying an additional 910 shares during the period. Cascade Investment Advisors Inc. purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at $827,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $617,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock worth $88,213,000 after acquiring an additional 29,888 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AKAM has been the topic of several research analyst reports. Susquehanna dropped their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Morgan Stanley decreased their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Scotiabank decreased their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $104.05.

Akamai Technologies Stock Down 10.5 %

Shares of NASDAQ AKAM opened at $76.51 on Friday. The company has a market capitalization of $11.18 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.74 and a beta of 0.82. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a 50 day simple moving average of $78.85 and a 200-day simple moving average of $89.45. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. This trade represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. This represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,321 shares of company stock valued at $2,986,916 over the last 90 days. 2.00% of the stock is owned by insiders.

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.