Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 20.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,474 shares of the technology infrastructure company’s stock after buying an additional 4,092 shares during the quarter. AE Wealth Management LLC’s holdings in Akamai Technologies were worth $2,205,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Akamai Technologies during the second quarter worth $28,000. EntryPoint Capital LLC acquired a new position in Akamai Technologies during the first quarter valued at $31,000. Family Firm Inc. purchased a new stake in Akamai Technologies in the second quarter valued at $35,000. Finally, Covestor Ltd grew its position in Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 310 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on 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 directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,500 shares of company stock valued at $741,655. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AKAM. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 24th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. Piper Sandler dropped their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Stock Performance

Shares of AKAM opened at $100.72 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The company has a 50-day simple moving average of $98.20 and a 200-day simple moving average of $98.20. The company has a market capitalization of $15.34 billion, a PE ratio of 25.05, a P/E/G ratio of 3.10 and a beta of 0.68.

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

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.