Sanctuary Advisors LLC Has $1.12 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sanctuary Advisors LLC increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,063 shares of the technology infrastructure company’s stock after purchasing an additional 384 shares during the period. Sanctuary Advisors LLC’s holdings in Akamai Technologies were worth $1,123,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AKAM. Empirical Finance LLC grew its position 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 worth $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp boosted its stake in Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. D.A. Davidson & CO. increased its stake in Akamai Technologies by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after purchasing an additional 115 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Scotiabank reduced their price target 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, February 21st. Citigroup decreased their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Akamai Technologies Trading Up 2.0 %

Shares of AKAM stock opened at $79.58 on Thursday. The stock has a 50 day simple moving average of $95.08 and a 200 day simple moving average of $97.55. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $113.36. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11.96 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share 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 the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.