3,650 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,650 shares of the technology infrastructure company’s stock, valued at approximately $432,000.

Several other hedge funds have also recently bought and sold shares of AKAM. Raymond James Financial Services Advisors Inc. lifted its position in shares of Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after acquiring an additional 97 shares during the period. ORG Partners LLC increased its stake in shares of Akamai Technologies by 16.7% in the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA increased its stake in shares of Akamai Technologies by 17.9% in the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after buying an additional 108 shares during the period. Xponance Inc. increased its stake in shares of Akamai Technologies by 0.5% in the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after buying an additional 110 shares during the period. Finally, Capital Analysts LLC increased its stake in shares of Akamai Technologies by 15.5% in the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 115 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,353 shares of company stock valued at $3,688,883. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $100.34 on Thursday. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72. The stock’s 50-day moving average is $109.64 and its 200-day moving average is $112.53. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Piper Sandler lifted their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.27.

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.