Bleakley Financial Group LLC Buys Shares of 2,013 Akamai Technologies, Inc. (NASDAQ:AKAM)

Bleakley Financial Group LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,013 shares of the technology infrastructure company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC raised its position in 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 period. Planned Solutions Inc. purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $37,000. Headinvest LLC purchased a new stake in Akamai Technologies in the third quarter valued at approximately $40,000. Belpointe Asset Management LLC raised its position in Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Adam Karon sold 8,394 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,353 shares of company stock valued at $3,688,883. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AKAM shares. JPMorgan Chase & Co. upped their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. 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. Piper Sandler upped their price objective on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, KeyCorp upped their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.27.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $102.22 on Tuesday. The stock’s 50-day moving average is $110.60 and its two-hundred day moving average is $112.66. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.92 and a beta of 0.72. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current 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.