Beverly Hills Private Wealth LLC Increases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Beverly Hills Private Wealth LLC raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,828 shares of the technology infrastructure company’s stock after purchasing an additional 126 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Akamai Technologies were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Akamai Technologies by 101.4% during the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after acquiring an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Akamai Technologies by 443.2% during the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after buying an additional 656 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies during the 4th quarter valued at $49,000. Charles Schwab Investment Management Inc. grew its holdings in Akamai Technologies by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in Akamai Technologies by 5.6% during the 4th quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company’s stock valued at $526,000 after buying an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group increased their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Oppenheimer began coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price on the stock. KeyCorp initiated coverage on Akamai Technologies in a report on Friday, June 6th. They issued an “underweight” rating and a $63.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.25.

Akamai Technologies Trading Up 2.0%

Shares of NASDAQ AKAM opened at $80.64 on Wednesday. The company’s 50 day simple moving average is $78.68 and its 200 day simple moving average is $84.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $11.79 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.50 and a beta of 0.77. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other news, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer directly owned 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.