Prime Capital Investment Advisors LLC Invests $230,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Prime Capital Investment Advisors LLC acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,945 shares of the technology infrastructure company’s stock, valued at approximately $230,000.

Several other institutional investors have also made changes to their positions in AKAM. Ancora Advisors LLC increased its position 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 worth $25,000 after acquiring an additional 127 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Akamai Technologies in the fourth quarter worth approximately $37,000. Headinvest LLC purchased a new position in shares of Akamai Technologies in the third quarter worth approximately $40,000. Belpointe Asset Management LLC increased its position in shares of Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth approximately $44,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,353 shares of company stock worth $4,159,203. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AKAM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. KeyCorp boosted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.27.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $103.47 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $15.68 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.97 and a beta of 0.72. The company has a 50 day moving average price of $111.05 and a two-hundred day moving average price of $112.65. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted 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. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Akamai Technologies Company 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.