2,735 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,735 shares of the technology infrastructure company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AKAM. Janus Henderson Group PLC boosted its stake in Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after acquiring an additional 6,724 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Akamai Technologies by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock valued at $56,915,000 after acquiring an additional 15,890 shares during the last quarter. TKG Advisors LLC purchased a new position in Akamai Technologies in the fourth quarter valued at about $3,245,000. State Board of Administration of Florida Retirement System boosted its stake in Akamai Technologies by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after acquiring an additional 28,304 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Akamai Technologies by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock valued at $20,132,000 after acquiring an additional 27,484 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 0.4 %

AKAM traded up $0.37 during trading on Wednesday, hitting $101.70. 52,024 shares of the stock traded hands, compared to its average volume of 1,611,564. The firm has a 50-day moving average of $99.15 and a 200 day moving average of $97.56. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $15.49 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS 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 during the quarter, compared to analysts’ expectations of $977.67 million. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

AKAM has been the topic of a number of research analyst reports. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. 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. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, TD Cowen upped their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.47.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock valued at $741,655. Company insiders own 1.80% of the company’s stock.

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.