Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 16.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,577 shares of the technology infrastructure company’s stock after acquiring an additional 500 shares during the period. Synovus Financial Corp’s holdings in Akamai Technologies were worth $326,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AKAM. Park Avenue Securities LLC increased its position in Akamai Technologies by 8.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,856 shares of the technology infrastructure company’s stock valued at $580,000 after acquiring an additional 380 shares during the period. Steward Partners Investment Advisory LLC increased its position in Akamai Technologies by 7.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,392 shares of the technology infrastructure company’s stock valued at $405,000 after acquiring an additional 226 shares during the period. Mutual of America Capital Management LLC increased its position in Akamai Technologies by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 21,687 shares of the technology infrastructure company’s stock valued at $2,589,000 after acquiring an additional 229 shares during the period. FDx Advisors Inc. increased its position in Akamai Technologies by 24.7% in the 1st quarter. FDx Advisors Inc. now owns 3,316 shares of the technology infrastructure company’s stock valued at $396,000 after acquiring an additional 656 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in Akamai Technologies by 1.6% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 89,477 shares of the technology infrastructure company’s stock valued at $10,683,000 after acquiring an additional 1,432 shares during the period. Institutional investors and hedge funds own 92.23% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the sale, the chief technology officer now directly owns 9,835 shares in the company, valued at approximately $913,868.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Paul C. Joseph sold 1,500 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the completion of the sale, the executive vice president now directly owns 31,183 shares in the company, valued at approximately $2,519,274.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the sale, the chief technology officer now owns 9,835 shares of the company’s stock, valued at $913,868.20. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AKAM shares. Raymond James dropped their target price on Akamai Technologies from $115.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Citigroup dropped their target price on Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. KeyCorp dropped their target price on Akamai Technologies from $116.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Morgan Stanley dropped their target price on Akamai Technologies from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 9th. Finally, Truist Financial decreased their price target on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.93.

Akamai Technologies Trading Up 0.2 %

AKAM stock opened at $90.95 on Monday. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.82 and a beta of 0.71. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $85.61 and a 200-day simple moving average of $91.34. Akamai Technologies, Inc. has a 52 week low of $76.28 and a 52 week high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The technology infrastructure company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The business had revenue of $881.90 million during the quarter, compared to the consensus estimate of $875.99 million. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.17 EPS for the current year.

Akamai Technologies Profile

(Get Rating)

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.

Further Reading

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

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