EverSource Wealth Advisors LLC Buys 156 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Posted by on May 20th, 2023

EverSource Wealth Advisors LLC lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 71.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 373 shares of the technology infrastructure company’s stock after purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC’s holdings in Akamai Technologies were worth $31,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. grew its holdings in shares of Akamai Technologies by 33.4% in the fourth quarter. Whittier Trust Co. now owns 782 shares of the technology infrastructure company’s stock worth $66,000 after purchasing an additional 196 shares during the last quarter. Edge Capital Group LLC bought a new position in Akamai Technologies during the 4th quarter worth about $68,000. Ballentine Partners LLC grew its holdings in Akamai Technologies by 6.5% during the 4th quarter. Ballentine Partners LLC now owns 3,412 shares of the technology infrastructure company’s stock worth $288,000 after acquiring an additional 207 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Akamai Technologies by 6.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 106,716 shares of the technology infrastructure company’s stock worth $8,578,000 after acquiring an additional 6,452 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in Akamai Technologies by 0.3% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 97,063 shares of the technology infrastructure company’s stock worth $7,797,000 after acquiring an additional 253 shares in the last quarter. 90.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Piper Sandler upgraded shares of 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. Guggenheim assumed coverage on shares of Akamai Technologies in a report on Monday, January 23rd. They set a “sell” rating and a $75.00 target price on the stock. StockNews.com assumed coverage on shares of Akamai Technologies in a research report on Thursday. They set a “buy” rating for the company. Cowen decreased their price target on shares of Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, February 15th. Finally, Robert W. Baird increased their price target on shares of Akamai Technologies from $89.00 to $94.00 in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

Insiders Place Their Bets

In other Akamai Technologies news, CEO F Thomson Leighton purchased 285 shares of Akamai Technologies stock in a transaction on Friday, May 19th. The stock was bought at an average cost of $87.86 per share, with a total value of $25,040.10. Following the transaction, the chief executive officer now owns 86,517 shares of the company’s stock, valued at approximately $7,601,383.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Akamai Technologies news, CEO F Thomson Leighton purchased 285 shares of Akamai Technologies stock in a transaction on Friday, May 19th. The stock was bought at an average cost of $87.86 per share, with a total value of $25,040.10. Following the transaction, the chief executive officer now owns 86,517 shares of the company’s stock, valued at approximately $7,601,383.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $85.50, for a total transaction of $128,250.00. Following the transaction, the executive vice president now directly owns 32,065 shares of the company’s stock, valued at $2,741,557.50. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 9,925 shares of company stock valued at $776,054 and sold 28,647 shares valued at $2,159,036. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $87.27 on Friday. The firm has a market capitalization of $13.28 billion, a P/E ratio of 30.51, a PEG ratio of 1.94 and a beta of 0.81. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $79.47 and a 200 day moving average price of $83.44. Akamai Technologies, Inc. has a 52 week low of $70.65 and a 52 week high of $102.83.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The technology infrastructure company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.32 by $0.08. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $912.13 million. Akamai Technologies had a net margin of 12.50% and a return on equity of 14.63%. Akamai Technologies’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.48 EPS for the current year.

About Akamai Technologies

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

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