First Trust Direct Indexing L.P. Decreases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Trust Direct Indexing L.P. lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,346 shares of the technology infrastructure company’s stock after selling 116 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Akamai Technologies were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. Raymond James Financial Services Advisors Inc. raised its stake in shares of Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the period. ORG Partners LLC grew its stake in Akamai Technologies by 16.7% during the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after acquiring an additional 100 shares in the last quarter. Private Trust Co. NA increased its holdings in Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after acquiring an additional 108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Akamai Technologies by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after purchasing an additional 108 shares in the last quarter. Finally, Capital Analysts LLC grew its position in shares of Akamai Technologies by 15.5% during the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their target price for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Piper Sandler lifted their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup reduced their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Trading Up 0.6 %

Shares of AKAM opened at $101.67 on Wednesday. The firm has a fifty day simple moving average of $106.09 and a two-hundred day simple moving average of $112.05. Akamai Technologies, Inc. has a twelve month low of $78.35 and a twelve month high of $129.17. The stock has a market capitalization of $15.41 billion, a P/E ratio of 28.63, a PEG ratio of 2.81 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly 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 return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the previous year, the business earned $1.01 EPS. Akamai Technologies’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Activity at Akamai Technologies

In other news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders have sold a total of 30,753 shares of company stock worth $3,368,303 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.