Jones Financial Companies Lllp Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Jones Financial Companies Lllp lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 443.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 804 shares of the technology infrastructure company’s stock after buying an additional 656 shares during the quarter. Jones Financial Companies Lllp’s holdings in Akamai Technologies were worth $77,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC boosted its holdings in shares of Akamai Technologies by 5.6% during the 3rd quarter. Metis Global Partners LLC now owns 8,471 shares of the technology infrastructure company’s stock valued at $855,000 after purchasing an additional 450 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Akamai Technologies by 4.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,536 shares of the technology infrastructure company’s stock worth $458,000 after buying an additional 188 shares in the last quarter. ING Groep NV boosted its stake in Akamai Technologies by 26.7% during the third quarter. ING Groep NV now owns 16,965 shares of the technology infrastructure company’s stock valued at $1,713,000 after buying an additional 3,573 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Akamai Technologies by 7.3% during the 3rd quarter. CIBC Asset Management Inc now owns 22,832 shares of the technology infrastructure company’s stock valued at $2,305,000 after buying an additional 1,562 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $80.73 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The firm has a 50-day moving average of $91.62 and a two-hundred day moving average of $95.88. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $125.00 to $98.00 in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Evercore ISI restated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Raymond James decreased their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.55.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 35,394 shares of company stock worth $3,019,323. Company 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.