Eagle Asset Management Inc. Invests $1.24 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Eagle Asset Management Inc. bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,473 shares of the technology infrastructure company’s stock, valued at approximately $1,239,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in Akamai Technologies by 0.3% in the fourth 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 acquiring an additional 97 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in Akamai Technologies by 6.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock valued at $192,000 after acquiring an additional 97 shares during the last quarter. ORG Partners LLC lifted its holdings in Akamai Technologies by 16.7% in 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 during the last quarter. Private Trust Co. NA lifted its holdings in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Akamai Technologies by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after acquiring an additional 108 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 0.4 %

Shares of NASDAQ AKAM opened at $90.74 on Thursday. The stock has a market cap of $13.82 billion, a P/E ratio of 22.57, a PEG ratio of 4.27 and a beta of 0.68. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a 12-month low of $86.94 and a 12-month high of $129.17. The business’s fifty day simple moving average is $99.54 and its 200-day simple moving average is $110.07.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. During the same period 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. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.47 EPS for the current fiscal year.

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

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the sale, the director now directly owns 14,519 shares in the company, valued at $1,358,107.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the sale, the director now owns 14,519 shares in the company, valued at $1,358,107.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now 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 33,243 shares of company stock worth $3,534,693 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AKAM. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, May 17th. Susquehanna decreased their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 10th. StockNews.com cut Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Piper Sandler decreased their price target on Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upped their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $114.00.

Read Our Latest Stock Analysis on AKAM

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.

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

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