Creative Planning Has $9.64 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Creative Planning grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,970 shares of the technology infrastructure company’s stock after buying an additional 980 shares during the period. Creative Planning owned approximately 0.07% of Akamai Technologies worth $9,636,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in Akamai Technologies during the 4th quarter valued at $162,000. TD Asset Management Inc increased its position in shares of Akamai Technologies by 4.0% during the fourth quarter. TD Asset Management Inc now owns 62,068 shares of the technology infrastructure company’s stock worth $7,346,000 after acquiring an additional 2,371 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Akamai Technologies in the 4th quarter worth about $1,239,000. California State Teachers Retirement System lifted its position in Akamai Technologies by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 249,377 shares of the technology infrastructure company’s stock valued at $29,514,000 after acquiring an additional 2,740 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Akamai Technologies during the 4th quarter valued at about $831,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $99.82 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a market cap of $15.20 billion, a P/E ratio of 24.83, a P/E/G ratio of 3.23 and a beta of 0.68. The company has a 50 day moving average of $98.72 and a 200 day moving average of $97.83.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen raised their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Piper Sandler cut their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies 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.