Kestra Private Wealth Services LLC trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,105 shares of the technology infrastructure company’s stock after selling 194 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Akamai Technologies were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in Akamai Technologies in the 4th quarter valued at about $25,000. Karlinski Andrew C acquired a new stake in Akamai Technologies during the 1st quarter worth about $30,000. Ancora Advisors LLC raised its holdings in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the period. Baystate Wealth Management LLC increased its holdings in shares of Akamai Technologies by 33.3% in the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 100 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at about $58,000. 92.23% of the stock is owned by institutional investors and hedge funds.
Akamai Technologies Stock Performance
Akamai Technologies stock opened at $88.56 on Tuesday. Akamai Technologies, Inc. has a 52-week low of $85.90 and a 52-week high of $123.25. The firm has a market capitalization of $14.08 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.73 and a beta of 0.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a fifty day moving average price of $92.47 and a two-hundred day moving average price of $100.94.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AKAM. Robert W. Baird dropped their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, August 11th. DA Davidson dropped their price objective on Akamai Technologies to $115.00 in a report on Monday, August 15th. Citigroup dropped their price objective on Akamai Technologies from $105.00 to $98.00 in a report on Wednesday, August 10th. Evercore ISI dropped their price objective on Akamai Technologies to $110.00 in a report on Monday, August 15th. Finally, Piper Sandler dropped their price objective on Akamai Technologies from $118.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Hold” and an average price target of $118.21.
Insider Buying and Selling
In related news, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $94.25, for a total value of $471,250.00. Following the completion of the sale, the chief technology officer now directly owns 14,835 shares in the company, valued at $1,398,198.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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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