AE Wealth Management LLC grew its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,923 shares of the technology infrastructure company’s stock after purchasing an additional 1,664 shares during the period. AE Wealth Management LLC’s holdings in Akamai Technologies were worth $3,618,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AKAM. Bain Capital Public Equity Management II LLC increased its stake in Akamai Technologies by 230.1% in the third quarter. Bain Capital Public Equity Management II LLC now owns 782,504 shares of the technology infrastructure company’s stock valued at $62,851,000 after purchasing an additional 545,464 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Akamai Technologies by 4,398.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock worth $51,581,000 after acquiring an additional 422,434 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Akamai Technologies during the 3rd quarter worth about $27,742,000. Great West Life Assurance Co. Can acquired a new stake in shares of Akamai Technologies in the third quarter worth approximately $20,770,000. Finally, Vanguard Group Inc. grew its holdings in Akamai Technologies by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares during the period. 90.41% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, COO Adam Karon sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $90.00, for a total transaction of $945,000.00. Following the completion of the transaction, the chief operating officer now directly owns 21,389 shares in the company, valued at approximately $1,925,010. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO F Thomson Leighton purchased 285 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The stock was acquired at an average cost of $87.88 per share, for a total transaction of $25,045.80. Following the completion of the purchase, the chief executive officer now owns 7,543 shares of the company’s stock, valued at $662,878.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $90.00, for a total value of $945,000.00. Following the sale, the chief operating officer now owns 21,389 shares in the company, valued at approximately $1,925,010. The disclosure for this sale can be found here. In the last three months, insiders have acquired 8,858 shares of company stock worth $700,981 and have sold 35,617 shares worth $2,805,070. 1.70% of the stock is owned by company insiders.
Akamai Technologies Stock Performance
Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. Akamai Technologies had a return on equity of 15.12% and a net margin of 13.15%. The company had revenue of $927.78 million during the quarter, compared to the consensus estimate of $904.80 million. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.27 EPS for the current fiscal year.
Analyst Ratings Changes
AKAM has been the topic of a number of recent analyst reports. Loop Capital cut their price target on shares of Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a research note on Wednesday, March 1st. Piper Sandler upgraded Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 target price on the stock in a report on Monday, April 10th. Piper Jaffray Companies raised Akamai Technologies to an “overweight” rating and set a $93.00 price target for the company in a research report on Tuesday, April 11th. StockNews.com assumed coverage on Akamai Technologies in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada cut Akamai Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $100.00 to $85.00 in a report on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.18.
Akamai Technologies Company Profile
Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.
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