Lindbrook Capital LLC Grows Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Lindbrook Capital LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411 shares of the technology infrastructure company’s stock after purchasing an additional 125 shares during the period. Lindbrook Capital LLC’s holdings in Akamai Technologies were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AKAM. Raymond James Financial Services Advisors Inc. raised its holdings in Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after buying an additional 97 shares during the period. ORG Partners LLC raised its stake in shares of Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after acquiring an additional 100 shares during the period. Private Trust Co. NA raised its stake in shares of Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares during the period. Xponance Inc. lifted its holdings in shares of Akamai Technologies by 0.5% in the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after acquiring an additional 110 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of Akamai Technologies by 15.5% during the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 115 shares during the period. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. KeyCorp boosted their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, Piper Sandler boosted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $121.60.

Insider Activity

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,353 shares of company stock worth $3,688,883. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $101.79 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The firm has a 50 day moving average of $107.12 and a 200 day moving average of $112.30. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. During the same period in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

About Akamai Technologies

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.