Northeast Investment Management, a privately held investment management firm, recently filed its Form 13F with the Securities and Exchange Commission and disclosed that it will acquire Akamai Technologies Inc. in the fourth quarter of 2022. has cut shares by 2.6%. As of its most recent filing with the SEC, the fund owned 122,372 shares of the technology infrastructure company’s stock after selling 3,213 shares during the period. Northeast Investment Management currently owns 0.08% of Akamai Technologies worth $10,316,000.

For those unfamiliar with Akamai Technologies Inc (NASDAQ:AKAM), it is a leading provider of cloud services to deliver, optimize and secure content and business applications over the Internet. The company’s products include security, web performance management systems and network operator tools, among other technologies.

On February 14 of this year, Akamai Technologies last released its earnings reports and revealed that it recorded quarterly earnings of $1.37 per share above analysts’ consensus estimates of $1.37, representing an increase of $0.11 per share to $1.26. Revenue generated value of approximately $927.78 million compared to analysts’ estimated revenue estimate for Q4 of $904.80 million.

Akamai Technologies made these figures even more impressive and maintained a remarkable return on equity and net margin figures of 15.12% and 13.15% with a 2.5% increase in revenue compared to the same quarter recorded in the previous year. In the comparable period of the same quarter last year, their earnings per share stood at $1.26 EPS.

Analysts forecasting financial results expect Akamai Technologies’ earnings per share to reach around $4.26 for the current fiscal year.

The continuous and steady growth of Akamai Technologies over the years has made the tech company one of the leading choices in various market domains for network and web security services as well as other related cloud products. Akamai’s infrastructure is strategically located globally, so it is able to deliver high-quality solutions powered by expertise from a globally dispersed multinational workforce. This has placed Akamai Technologies Inc in an enviable position in the technology industry today with their extensive network spanning over 135 countries and support for over 30,000 customers worldwide.

The latest move by Northeast Investment Management to cut its stake in Akamai Technologies stock has surprised some investors as the development boosted investor interest in the cloud infrastructure provider following impressive financial results announced in February. However, investors and stakeholders are closely monitoring its developments, eagerly awaiting upcoming updates from both Northeastern management and Akamai leadership with the hope that these companies are managing risks in keeping with current operational realities.

Akamai Technologies receives fresh investments from large investors and mixed reviews from analysts

Akamai Technologies, Inc., a provider of cloud services for Internet content and applications, recently received new investments from several large investors. Fairfield Bush & CO. recently acquired a stake in the company worth $107,000. Private Advisor Group LLC increased its position by 16%, now owns 4,491 shares worth $536,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position by 6.6% and now owns 21,740 shares worth $2,596,000. Cibc World Market Inc. upped its position by 2.3%, owning 10,741 shares worth $1,282,000. Finally, Cetera Investment Advisors increased its stake by an impressive 48.7%, now standing at 2,789 shares valued at $333,000. Most of Akamai Technologies’ stock is owned by institutional investors and hedge funds, accounting for about 90%.

One share of AKAM stock traded at $78.92 on Friday after trading volume of more than one million shares, compared to its average volume of around two million. A market capitalization of $12.33 billion and a PE ratio of 26.57 indicate higher earnings growth potential than its price suggests; Akamai’s stock has a PEG ratio of 1.82 and beta shows low volatility relative to the broader markets.

Akamai was founded by Frank T. Leighton and Jonathan Seelig with Randall S. as their current CEO to provide security measures to provide web performance optimizations that ensure smooth delivery for businesses operating over the Internet.

CEO F Thomson Leighton recently acquired a total of 285 shares in the business’s stock worth $25,068; But insider Adam Caron sold 10,500 of his holdings, worth about $945,000 per share, for undisclosed reasons disclosed on the SEC’s website. Insiders acquired a total of eight thousand four hundred and seventy-six shares worth $676,043 and sold a total of thirty-five thousand seven hundred forty shares worth $2,815,700 giving the insiders approximately 1.70% of the company’s stock.

Several analysts have weighed in on the company with mixed ratings, including Loop Capital which cut its estimated target price on the stock to $79 from $91 in March and issued a “hold” rating. Cowen cut his forecast for Akamai’s share price from $137 to $105 in February, while maintaining an “outperform” rating. Guggenheim also gave the stock a “sell” rating and estimated its price at $75 per share, while Royal Bank of Canada recently downgraded Akamai Technologies from Outperform to Sector Perform with a lower price range of $85 after raising concerns about market volatility. However, StockNews.com rated Akamai Technologies as a “Buy.”

Overall, despite some mixed reviews about its stock, Akamai Technologies offers improved security measures and delivery for businesses looking for cloud-based services and has excellent investment potential for long-term investors interested in this technology infrastructure company.

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