Treasurer of North Carolina Increases Investment in Akamai Technologies Following Positive Q1 Results
August 15, 2023
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The Treasurer of the State of North Carolina has announced an increased investment in Akamai Technologies ($NASDAQ:AKAM) following the company’s positive first quarter results. Akamai Technologies is a leading cloud computing provider, offering platforms and services for optimizing and delivering digital content, applications, and media over the internet. With its vast network of servers, the company is well-positioned to provide fast, reliable, and secure delivery of its customers’ digital content. This move is part of the Treasurer’s larger investment strategy of diversifying the state’s portfolio across different industries and asset classes.
The Treasurer’s increased commitment to Akamai Technologies is indicative of the company’s strong position in the cloud computing market. Akamai has been able to provide secure delivery to customers around the world during a time when digital content has become increasingly important for businesses. With the state’s increased investment, Akamai is well-positioned to continue providing reliable and secure services to its customers.
Share Price
The stock opened at 93.0 and closed at 95.3, representing an increase of 2.9% from its prior closing price of 92.6. This is a positive reflection of the company’s financial performance and market outlook. The North Carolina Treasurer’s decision reinforces the confidence institutional investors have in Akamai’s future. This increased investment is expected to generate returns for the state’s pension fund portfolio. The company has a strong leadership team and a strong balance sheet, allowing them to take advantage of strategic opportunities and capitalize on growth opportunities.
The company is well-positioned to continue to deliver strong business performance in the future. This decision reinforces the confidence institutional investors and the state treasurer have in Akamai’s future outlook. The increased investment is expected to generate returns for the state’s pension fund portfolio and further demonstrates the company’s ability to sustain strong business performance in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Akamai Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 3.66k | 478.38 | 14.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Akamai Technologies. More…
| Operations | Investing | Financing |
| 1.31k | -558.43 | -881.92 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Akamai Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.35k | 4.06k | 28.26 |
Key Ratios Snapshot
Some of the financial key ratios for Akamai Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.4% | 0.9% | 16.7% |
| FCF Margin | ROE | ROA |
| 19.2% | 9.0% | 4.6% |
Analysis
As GoodWhale, we have analyzed the fundamentals of AKAMAI TECHNOLOGIES and provided our assessment. We have determined that they are a medium risk investment when considering the financial and business aspects. Specifically, we have identified two risk warnings in their balance sheet that are non-financial in nature. To check out these warnings in detail, register on goodwhale.com and get access to our exclusive tools. More…
Peers
The competition between Akamai Technologies Inc and its competitors is fierce. Media Links Co Ltd, Cloudflare Inc, Rumble Inc are all vying for market share in the content delivery network (CDN) industry. Akamai has a strong foothold in the market, but its competitors are challenging Akamai’s dominance.
– Media Links Co Ltd ($TSE:6659)
Media Links Co Ltd is a Japanese company that specializes in the development and manufacture of equipment for digital audio and video signal transmission. The company has a market cap of 819.24M as of 2022 and a Return on Equity of -29.69%. Media Links Co Ltd is a publicly traded company on the Tokyo Stock Exchange.
– Cloudflare Inc ($NYSE:NET)
Cloudflare is an American web infrastructure and website security company, providing content delivery network services, DDoS mitigation, Internet security, and distributed domain name server services. Its network protects and speeds up millions of websites, APIs, SaaS services, and other properties connected to the Internet.
As of May 2021, Cloudflare had a market capitalization of $12.82 billion. It went public on September 15, 2009, at a price of $15 per share, and closed its first day of trading at $28.79 per share. The company’s stock trades on the New York Stock Exchange under the ticker symbol NET.
Cloudflare has a negative return on equity (ROE) of 19.43%. This is because the company reinvested a significant portion of its earnings back into the business to fuel growth.
– Rumble Inc ($NASDAQ:RUM)
Rumble Inc is a publicly traded company with a market capitalization of 3.8 billion dollars as of 2022. The company has a negative return on equity of 23.68%. Rumble Inc is a provider of online video streaming services. The company was founded in 2004 and is headquartered in San Francisco, California.
Summary
The Treasurer of the State of North Carolina increased their holdings in Akamai Technologies after the company announced strong quarterly results. This increase in cash position is likely to benefit Akamai going forward as the company focuses on investing in organic and inorganic innovation. Overall, Akamai had an impressive quarter, and its financial strength is encouraging investors like the Treasurer of the State of North Carolina to increase their holdings in the company.
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