Roberts Wealth Advisors LLC Reduces Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Roberts Wealth Advisors LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,061 shares of the technology infrastructure company’s stock after selling 145 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Akamai Technologies were worth $1,354,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Akamai Technologies by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after acquiring an additional 254,437 shares during the last quarter. First Trust Advisors LP grew its position in shares of Akamai Technologies by 21.8% in the first quarter. First Trust Advisors LP now owns 4,194,752 shares of the technology infrastructure company’s stock valued at $328,449,000 after purchasing an additional 749,933 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Akamai Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,549,920 shares of the technology infrastructure company’s stock worth $277,564,000 after purchasing an additional 47,727 shares in the last quarter. Legal & General Group Plc raised its position in shares of Akamai Technologies by 5.7% during the 4th quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock worth $229,628,000 after purchasing an additional 147,339 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in Akamai Technologies by 6.5% in the 1st quarter. Champlain Investment Partners LLC now owns 2,472,498 shares of the technology infrastructure company’s stock valued at $193,597,000 after buying an additional 151,100 shares in the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AKAM shares. Morgan Stanley boosted their price target on Akamai Technologies from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Piper Sandler upped their target price on shares of Akamai Technologies from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, August 25th. Royal Bank of Canada raised their price target on shares of Akamai Technologies from $85.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 9th. Citigroup lifted their price objective on Akamai Technologies from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, August 29th. Finally, DA Davidson lifted their price target on Akamai Technologies from $100.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.41.

Insider Buying and Selling

In other news, CFO Edward J. Mcgowan sold 8,640 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.45, for a total transaction of $911,088.00. Following the completion of the transaction, the chief financial officer now owns 18,168 shares in the company, valued at $1,915,815.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Edward J. Mcgowan sold 8,640 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $105.45, for a total transaction of $911,088.00. Following the sale, the chief financial officer now owns 18,168 shares of the company’s stock, valued at $1,915,815.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $105.67, for a total value of $422,680.00. Following the completion of the transaction, the executive vice president now directly owns 28,065 shares of the company’s stock, valued at $2,965,628.55. The disclosure for this sale can be found here. Insiders sold a total of 44,946 shares of company stock worth $4,537,484 in the last three months. 1.80% of the stock is owned by insiders.

Akamai Technologies Stock Down 0.1 %

AKAM traded down $0.14 during trading on Tuesday, hitting $105.45. The company had a trading volume of 142,687 shares, compared to its average volume of 1,575,486. The company has a market cap of $16.00 billion, a PE ratio of 35.67, a P/E/G ratio of 2.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.00 and a quick ratio of 2.00. Akamai Technologies, Inc. has a 1-year low of $70.65 and a 1-year high of $107.47. The business has a 50-day moving average of $99.24 and a 200-day moving average of $89.04.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, August 8th. The technology infrastructure company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). Akamai Technologies had a net margin of 12.64% and a return on equity of 14.41%. The firm had revenue of $935.72 million during the quarter, compared to the consensus estimate of $931.52 million. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.43 earnings per share for the current year.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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.