Moors & Cabot Inc. Buys 308 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Posted by Defense World Staff on May 22nd, 2023

Moors & Cabot Inc. raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,176 shares of the technology infrastructure company’s stock after purchasing an additional 308 shares during the quarter. Moors & Cabot Inc.’s holdings in Akamai Technologies were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AKAM. Zions Bancorporation N.A. lifted its position in Akamai Technologies by 73.7% during the third quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Ancora Advisors LLC lifted its position in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Akamai Technologies by 625.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Akamai Technologies during the fourth quarter worth approximately $29,000. Finally, General Partner Inc. purchased a new position in shares of Akamai Technologies during the fourth quarter worth approximately $31,000. 90.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AKAM shares. William Blair started coverage on shares of Akamai Technologies in a research note on Wednesday, April 19th. They set an “outperform” rating on the stock. Evercore ISI lifted their price target on shares of Akamai Technologies from $100.00 to $105.00 in a research note on Wednesday, May 10th. Royal Bank of Canada downgraded shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $100.00 to $85.00 in a research note on Wednesday, February 15th. StockNews.com assumed coverage on shares of Akamai Technologies in a research note on Thursday. They set a “buy” rating on the stock. Finally, Piper Jaffray Companies raised shares of Akamai Technologies to an “overweight” rating and set a $93.00 target price on the stock in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Akamai Technologies Trading Down 0.6 %

NASDAQ:AKAM opened at $87.27 on Monday. The company has a 50-day moving average price of $79.47 and a 200-day moving average price of $83.40. Akamai Technologies, Inc. has a 12 month low of $70.65 and a 12 month high of $102.83. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.96 and a beta of 0.81.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The technology infrastructure company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.08. The company 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 quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. Equities analysts predict that Akamai Technologies, Inc. will post 4.48 EPS for the current year.

Insider Buying and Selling

In other Akamai Technologies news, CEO F Thomson Leighton purchased 325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was bought at an average cost of $76.99 per share, for a total transaction of $25,021.75. Following the purchase, the chief executive officer now directly owns 12,431 shares in the company, valued at $957,062.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Akamai Technologies news, CEO F Thomson Leighton purchased 325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was bought at an average cost of $76.99 per share, for a total transaction of $25,021.75. Following the purchase, the chief executive officer now directly owns 12,431 shares in the company, valued at $957,062.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aaron Ahola sold 3,471 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $74.76, for a total transaction of $259,491.96. Following the sale, the executive vice president now owns 17,798 shares of the company’s stock, valued at $1,330,578.48. The disclosure for this sale can be found here. In the last three months, insiders acquired 9,925 shares of company stock worth $776,054 and sold 28,647 shares worth $2,159,036. 1.80% of the stock is owned by company insiders.

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.