Akamai Technologies, Inc. (NASDAQ:AKAM) Position Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,548 shares of the technology infrastructure company’s stock after buying an additional 3,134 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Akamai Technologies were worth $1,332,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TCTC Holdings LLC increased its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares during the period. M&T Bank Corp increased its holdings in shares of Akamai Technologies by 1.2% during the fourth quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company’s stock valued at $1,161,000 after purchasing an additional 142 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock valued at $35,000 after purchasing an additional 155 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Akamai Technologies by 6.4% during the fourth quarter. Truvestments Capital LLC now owns 2,935 shares of the technology infrastructure company’s stock valued at $281,000 after purchasing an additional 176 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the sale, the executive vice president now directly owns 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total value of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares of the company’s stock, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $79.60 on Friday. The business’s 50-day moving average price is $78.37 and its 200 day moving average price is $84.92. The stock has a market capitalization of $11.64 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AKAM shares. Scotiabank lowered their price target on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Oppenheimer started coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. UBS Group raised their price target on Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Morgan Stanley lowered their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.25.

Akamai Technologies Company 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.