Ritholtz Wealth Management Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ritholtz Wealth Management bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,893 shares of the technology infrastructure company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AKAM. Ancora Advisors LLC raised its stake in shares of Akamai Technologies by 103.3% in the first 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. Planned Solutions Inc. purchased a new position in Akamai Technologies during the fourth quarter valued at approximately $37,000. Headinvest LLC bought a new position in shares of Akamai Technologies in the third quarter worth approximately $40,000. Belpointe Asset Management LLC increased its stake in shares of Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after purchasing an additional 170 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $44,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AKAM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Piper Sandler boosted their price target on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. KeyCorp upped their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Susquehanna assumed coverage on shares of Akamai Technologies in a research report on Friday, December 15th. They set a “positive” rating and a $150.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.50.

Read Our Latest Stock Report on Akamai Technologies

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 37,353 shares of company stock valued at $4,159,203 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 1.8 %

Shares of AKAM opened at $107.38 on Wednesday. The firm has a market cap of $16.27 billion, a P/E ratio of 30.42, a PEG ratio of 3.07 and a beta of 0.72. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The stock’s 50 day moving average is $113.97 and its two-hundred day moving average is $112.77. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The firm had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

About Akamai Technologies

(Free Report)

Akamai Technologies, Inc provides cloud computing, security, and content delivery services 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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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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