Palouse Capital Management Inc. Has $1.15 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Palouse Capital Management Inc. grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,729 shares of the technology infrastructure company’s stock after purchasing an additional 1,834 shares during the period. Palouse Capital Management Inc.’s holdings in Akamai Technologies were worth $1,147,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Garrison Asset Management LLC grew its stake in shares of Akamai Technologies by 0.6% during the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock worth $1,915,000 after purchasing an additional 120 shares during the period. Czech National Bank boosted its holdings in Akamai Technologies by 0.5% during the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock worth $2,886,000 after buying an additional 121 shares during the last quarter. Wahed Invest LLC grew its position in shares of Akamai Technologies by 5.0% during the 4th quarter. Wahed Invest LLC now owns 2,547 shares of the technology infrastructure company’s stock worth $301,000 after buying an additional 122 shares during the period. X Square Capital LLC increased its stake in shares of Akamai Technologies by 4.9% in the 2nd quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock valued at $237,000 after acquiring an additional 122 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of Akamai Technologies by 0.9% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 13,904 shares of the technology infrastructure company’s stock valued at $1,252,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AKAM has been the subject of a number of analyst reports. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Wednesday, July 24th. Piper Sandler decreased their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Scotiabank increased their price target on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Stock Down 0.5 %

Shares of AKAM stock opened at $97.41 on Thursday. The firm has a market capitalization of $14.84 billion, a P/E ratio of 24.23, a PEG ratio of 3.10 and a beta of 0.68. The firm’s fifty day moving average price is $97.84 and its two-hundred day moving average price is $98.52. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Akamai Technologies Company Profile

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.