Corient Private Wealth LLC Has $4.60 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Corient Private Wealth LLC grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 89.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,824 shares of the technology infrastructure company’s stock after purchasing an additional 18,369 shares during the period. Corient Private Wealth LLC’s holdings in Akamai Technologies were worth $4,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its position 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 worth $4,120,000 after purchasing an additional 97 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Akamai Technologies by 6.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after acquiring an additional 97 shares in the last quarter. ORG Partners LLC boosted its position in shares of Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after acquiring an additional 100 shares in the last quarter. Private Trust Co. NA boosted its position in shares of 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 in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Akamai Technologies by 0.7% during 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 acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $94.14 on Tuesday. Akamai Technologies, Inc. has a twelve month low of $86.94 and a twelve month high of $129.17. The firm has a fifty day simple moving average of $102.00 and a 200 day simple moving average of $111.06. The company has a market capitalization of $14.34 billion, a PE ratio of 23.42, a P/E/G ratio of 4.42 and a beta of 0.72. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last announced its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The business had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. During the same quarter last year, the firm earned $1.01 earnings per share. Akamai Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.47 EPS for the current year.

Akamai Technologies announced that its board has approved a share repurchase program on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna reduced their price target on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. KeyCorp cut their target price on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Raymond James cut their target price on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their target price for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, Piper Sandler cut their target price on shares of Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.00.

Check Out Our Latest Stock Analysis on Akamai Technologies

Insider Buying and Selling

In other news, CEO F Thomson Leighton bought 22,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO F Thomson Leighton purchased 22,000 shares of Akamai Technologies stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 32,243 shares of company stock valued at $3,441,153 over the last quarter. Insiders own 2.00% of the company’s stock.

Akamai Technologies Profile

(Free Report)

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.

Further Reading

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

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