Cookson Peirce & Co. Inc. Purchases Shares of 76,705 Akamai Technologies, Inc. (NASDAQ:AKAM)

Cookson Peirce & Co. Inc. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 76,705 shares of the technology infrastructure company’s stock, valued at approximately $9,078,000. Cookson Peirce & Co. Inc. owned about 0.05% of Akamai Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $1,184,000. Quadrature Capital Ltd acquired a new stake in Akamai Technologies in the third quarter valued at approximately $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $1,879,000. Alpine Global Management LLC acquired a new stake in shares of Akamai Technologies in the third quarter worth approximately $2,791,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter worth approximately $41,880,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded down $0.42 on Tuesday, reaching $101.80. 512,875 shares of the company traded hands, compared to its average volume of 1,659,061. The company’s 50 day moving average is $110.60 and its 200-day moving average is $112.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The stock has a market capitalization of $15.43 billion, a PE ratio of 28.84, a P/E/G ratio of 2.92 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock valued at $3,688,883 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AKAM. Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Piper Sandler boosted their price objective on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.27.

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.