Morris Capital Advisors LLC lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,008 shares of the technology infrastructure company’s stock after buying an additional 478 shares during the period. Akamai Technologies comprises 2.3% of Morris Capital Advisors LLC’s holdings, making the stock its 23rd largest holding. Morris Capital Advisors LLC’s holdings in Akamai Technologies were worth $2,558,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Akamai Technologies by 10,159.2% in the 4th quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure company’s stock worth $63,892,000 after buying an additional 53,972,730 shares during the last quarter. Vanguard Group Inc. grew its holdings in Akamai Technologies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Akamai Technologies by 1.9% during the 4th quarter. Mackenzie Financial Corp now owns 2,267,733 shares of the technology infrastructure company’s stock valued at $265,415,000 after purchasing an additional 42,697 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Akamai Technologies by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,259,687 shares of the technology infrastructure company’s stock valued at $264,474,000 after purchasing an additional 308,711 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Akamai Technologies by 2.9% during the 4th quarter. Legal & General Group Plc now owns 2,252,251 shares of the technology infrastructure company’s stock valued at $263,602,000 after purchasing an additional 63,759 shares during the last quarter. 92.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on AKAM shares. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Monday. Citigroup cut their price target on shares of Akamai Technologies from $105.00 to $98.00 in a report on Wednesday, August 10th. Piper Sandler cut their price target on shares of Akamai Technologies from $118.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, July 6th. Truist Financial dropped their target price on shares of Akamai Technologies from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Finally, DA Davidson dropped their target price on shares of Akamai Technologies to $115.00 in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.21.
Insider Activity at Akamai Technologies
Akamai Technologies Stock Down 1.1 %
Shares of AKAM traded down $0.94 during mid-day trading on Friday, hitting $81.15. The company’s stock had a trading volume of 66,110 shares, compared to its average volume of 1,314,493. The company’s 50-day moving average is $92.22 and its 200-day moving average is $100.51. Akamai Technologies, Inc. has a 52-week low of $81.40 and a 52-week high of $123.25. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.67 and a beta of 0.66. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.53.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Akamai Technologies had a net margin of 16.18% and a return on equity of 16.97%. The company had revenue of $903.33 million during the quarter, compared to analysts’ expectations of $898.75 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. Akamai Technologies’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Akamai Technologies, Inc. will post 4.19 EPS for the current fiscal year.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.
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