SVB Wealth LLC Makes New $233,000 Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

SVB Wealth LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,969 shares of the technology infrastructure company’s stock, valued at approximately $233,000.

A number of other large investors have also recently added to or reduced their stakes in AKAM. Planned Solutions Inc. bought a new position in Akamai Technologies during the 4th quarter worth about $37,000. Headinvest LLC acquired a new position in shares of Akamai Technologies during the 3rd quarter worth about $40,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $44,000. Finally, UMB Bank n.a. boosted its stake in shares of Akamai Technologies by 144.3% during the 4th quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock worth $67,000 after buying an additional 332 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock valued at $3,688,883 over the last three months. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Down 0.6 %

Shares of AKAM opened at $100.88 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The firm’s 50 day moving average is $108.03 and its 200-day moving average is $112.47. The stock has a market capitalization of $15.29 billion, a PE ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Piper Sandler raised their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, KeyCorp raised their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned 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 target price of $121.27.

About Akamai Technologies

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.