Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 16.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,577 shares of the technology infrastructure company’s stock after purchasing an additional 500 shares during the quarter. Synovus Financial Corp’s holdings in Akamai Technologies were worth $326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Karlinski Andrew C acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $30,000. Ancora Advisors LLC increased its holdings in shares of Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. CX Institutional acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $41,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 92.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AKAM shares. Morgan Stanley cut their target price on Akamai Technologies from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 9th. Piper Sandler cut their target price on Akamai Technologies to $93.00 in a research note on Tuesday, November 15th. Citigroup cut their target price on Akamai Technologies from $105.00 to $98.00 in a research note on Wednesday, August 10th. Robert W. Baird cut their target price on Akamai Technologies to $90.00 in a research note on Tuesday, November 15th. Finally, TheStreet cut Akamai Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.93.

Akamai Technologies Trading Up 0.2 %

Shares of NASDAQ AKAM opened at $90.95 on Monday. The stock has a market capitalization of $14.30 billion, a PE ratio of 29.15, a PEG ratio of 1.82 and a beta of 0.71. The stock has a fifty day simple moving average of $85.61 and a 200-day simple moving average of $91.34. Akamai Technologies, Inc. has a twelve month low of $76.28 and a twelve month high of $123.25. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.54.

Akamai Technologies (NASDAQ:AKAMGet Rating) last released its earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. The firm had revenue of $881.90 million during the quarter, compared to analyst estimates of $875.99 million. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. Akamai Technologies’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.17 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the transaction, the chief technology officer now directly owns 9,835 shares in the company, valued at $913,868.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the transaction, the chief technology officer now directly owns 9,835 shares in the company, valued at $913,868.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 1,500 shares of Akamai Technologies stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $80.79, for a total value of $121,185.00. Following the completion of the transaction, the executive vice president now owns 31,183 shares of the company’s stock, valued at $2,519,274.57. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Akamai Technologies Profile

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

Further Reading

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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