Amalgamated Bank decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,966 shares of the technology infrastructure company’s stock after selling 2,742 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $4,891,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AKAM. Johnson Financial Group Inc. acquired a new stake in Akamai Technologies during the 4th quarter worth about $25,000. Ancora Advisors LLC lifted its position 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 acquiring an additional 127 shares during the period. Karlinski Andrew C purchased a new position in shares of Akamai Technologies during the 1st quarter valued at about $30,000. Baystate Wealth Management LLC raised its stake in shares of Akamai Technologies by 33.3% during the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Akamai Technologies during the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 92.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on AKAM. Robert W. Baird reduced their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, August 11th. Morgan Stanley reduced their price objective on Akamai Technologies from $110.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 10th. Truist Financial reduced their price objective on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. KeyCorp reduced their price objective on Akamai Technologies from $123.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. Finally, Citigroup reduced their price objective on Akamai Technologies from $105.00 to $98.00 in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $118.21.
Insiders Place Their Bets
Akamai Technologies Price Performance
NASDAQ:AKAM opened at $85.93 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $85.85 and a 12 month high of $123.25. The stock has a 50 day moving average of $92.41 and a two-hundred day moving average of $100.84. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.53. The firm has a market cap of $13.66 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 1.73 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The technology infrastructure company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.31 by $0.04. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The company had revenue of $903.33 million during the quarter, compared to analyst estimates of $898.75 million. During the same period in the previous year, the business earned $1.18 EPS. Akamai Technologies’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts expect that Akamai Technologies, Inc. will post 4.19 earnings per share for the current fiscal year.
Akamai Technologies 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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