Texas Bank & Trust Co Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Texas Bank & Trust Co bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,300 shares of the technology infrastructure company’s stock, valued at approximately $316,000.

A number of other institutional investors also recently bought and sold shares of AKAM. Norges Bank purchased a new position in Akamai Technologies during the fourth quarter worth about $477,454,000. First Trust Advisors LP raised its stake in Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after purchasing an additional 690,341 shares during the period. National Pension Service raised its stake in Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares during the period. Hsbc Holdings PLC raised its stake in Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after purchasing an additional 235,394 shares during the period. Finally, Northern Trust Corp raised its stake in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock worth $178,085,000 after purchasing an additional 163,472 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on AKAM. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Scotiabank dropped their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.26.

Akamai Technologies Trading Up 2.0%

Shares of AKAM stock opened at $78.03 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The stock has a market capitalization of $11.41 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The company has a 50 day moving average price of $78.29 and a 200 day moving average price of $88.41.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $1.64 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares of the company’s stock, valued at $918,981.18. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,321 shares of company stock worth $2,986,916 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.