Van ECK Associates Corp Purchases 910 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Van ECK Associates Corp boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 49.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,746 shares of the technology infrastructure company’s stock after purchasing an additional 910 shares during the period. Van ECK Associates Corp’s holdings in Akamai Technologies were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AKAM. Empirical Finance LLC lifted its stake in shares of Akamai Technologies by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after buying an additional 103 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after buying an additional 115 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Akamai Technologies by 1.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after buying an additional 116 shares in the last quarter. Finally, Delta Capital Management LLC lifted its stake in shares of Akamai Technologies by 4.5% during the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock valued at $267,000 after buying an additional 120 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AKAM has been the topic of several recent analyst reports. Robert W. Baird lowered their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $112.00 to $100.00 in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday. Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $76.73 on Monday. The business has a 50-day simple moving average of $96.15 and a 200-day simple moving average of $97.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a one year low of $76.50 and a one year high of $113.36. The company has a market cap of $11.53 billion, a PE ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. On average, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last ninety days. Insiders own 1.80% of the company’s stock.

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.