Earnest Partners LLC Purchases 28,135 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Earnest Partners LLC boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,131,061 shares of the technology infrastructure company’s stock after purchasing an additional 28,135 shares during the period. Akamai Technologies makes up approximately 0.9% of Earnest Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Earnest Partners LLC’s holdings in Akamai Technologies were worth $191,966,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AKAM. Dimensional Fund Advisors LP lifted its stake in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Akamai Technologies by 19.6% during the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares during the period. Intech Investment Management LLC grew its holdings in shares of Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after purchasing an additional 199,334 shares during the last quarter. FIL Ltd increased its stake in Akamai Technologies by 14.5% in the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after buying an additional 186,124 shares during the period. Finally, Empyrean Capital Partners LP bought a new stake in Akamai Technologies during the 2nd quarter valued at about $15,314,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at $2,987,401.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last ninety days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $99.64 on Thursday. 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 company has a market capitalization of $15.10 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68. The firm’s 50-day moving average is $98.33 and its two-hundred day moving average is $98.14. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

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

Analyst Ratings Changes

Several brokerages recently issued reports on AKAM. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. 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 research note on Friday, August 9th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Piper Sandler reduced their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

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.