Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,841 shares of the technology infrastructure company’s stock after purchasing an additional 1,435 shares during the period. MML Investors Services LLC’s holdings in Akamai Technologies were worth $2,185,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. TCTC Holdings LLC grew its stake in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after purchasing an additional 114 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after acquiring an additional 116 shares in the last quarter. Delta Capital Management LLC increased its position in shares of Akamai Technologies by 4.5% in the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after acquiring an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in shares of Akamai Technologies by 0.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $80.18 on Tuesday. The stock has a market cap of $11.72 billion, a P/E ratio of 24.60, a PEG ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The company has a fifty day moving average price of $78.76 and a 200 day moving average price of $90.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. The trade was a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,394 shares of company stock worth $2,653,043 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AKAM shares. Oppenheimer started coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price on the stock. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Citigroup decreased their price target 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. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Friday, February 21st. Finally, Piper Sandler decreased their price target on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and an average target price of $104.75.

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.