Envestnet Asset Management Inc. Purchases 15,890 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Envestnet Asset Management Inc. lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,908 shares of the technology infrastructure company’s stock after purchasing an additional 15,890 shares during the period. Envestnet Asset Management Inc. owned 0.32% of Akamai Technologies worth $56,915,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of 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 worth $4,120,000 after purchasing an additional 97 shares in the last quarter. Manchester Capital Management LLC grew its stake in Akamai Technologies by 6.4% during 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 in the last quarter. 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 grew its stake in Akamai Technologies by 17.9% during 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 in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew 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 buying an additional 108 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Up 1.3 %

NASDAQ:AKAM opened at $90.34 on Tuesday. The company has a fifty day moving average of $98.39 and a 200 day moving average of $109.56. Akamai Technologies, Inc. has a 52 week low of $86.94 and a 52 week high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $13.76 billion, a P/E ratio of 22.47, a P/E/G ratio of 4.18 and a beta of 0.69.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, beating 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 company had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same period in the prior year, the business posted $1.01 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Akamai Technologies, Inc. will post 4.47 earnings per share for the current year.

Akamai Technologies declared that its Board of Directors has approved a stock buyback 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 often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the transaction, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the transaction, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The disclosure for this sale can be found here. Insiders sold 33,243 shares of company stock worth $3,534,693 in the last three months. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on AKAM. Citigroup cut their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Morgan Stanley cut their price target on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. TD Cowen cut their price target on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating for the company in a research note on Friday, May 10th. Finally, StockNews.com cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.00.

View Our Latest Research Report on Akamai Technologies

Akamai Technologies Company 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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