1,821 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by Trust Asset Management LLC

Trust Asset Management LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,821 shares of the technology infrastructure company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Akamai Technologies by 1.8% during the third quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock worth $223,554,000 after purchasing an additional 38,069 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Akamai Technologies during the third quarter worth $218,201,000. Northern Trust Corp raised its position in shares of Akamai Technologies by 3.0% during the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock worth $204,788,000 after purchasing an additional 56,782 shares during the period. Earnest Partners LLC raised its position in Akamai Technologies by 4.8% during the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after buying an additional 82,364 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Akamai Technologies by 22.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock valued at $134,923,000 after buying an additional 228,200 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,353 shares of company stock worth $3,688,883. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price target for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Piper Sandler upped their price target on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Citigroup dropped their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Stock Down 0.4 %

Shares of AKAM traded down $0.40 during trading hours on Thursday, hitting $101.79. 1,139,181 shares of the company were exchanged, compared to its average volume of 1,623,721. The company has a market cap of $15.42 billion, a PE ratio of 28.84, a PEG ratio of 2.87 and a beta of 0.72. The firm’s 50 day moving average is $107.12 and its 200-day moving average is $112.30. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.

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

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.