Brighton Jones LLC Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Brighton Jones LLC decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,994 shares of the technology infrastructure company’s stock after selling 1,908 shares during the period. Brighton Jones LLC’s holdings in Akamai Technologies were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKAM. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies during the 1st quarter worth approximately $31,000. Versant Capital Management Inc boosted its holdings in Akamai Technologies by 170.8% in 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 period. Innealta Capital LLC bought a new position in Akamai Technologies in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new position in Akamai Technologies in the 2nd quarter worth approximately $35,000. Finally, Covestor Ltd boosted its holdings in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’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 transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $101.97 on Monday. The stock has a market cap of $15.53 billion, a PE ratio of 25.37, a PEG ratio of 3.31 and a beta of 0.68. The company’s fifty day moving average is $100.99 and its 200 day moving average is $97.23. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. 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 (NASDAQ:AKAM) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the previous year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AKAM. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, July 29th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Scotiabank lifted their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.47.

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.