International Assets Investment Management LLC Acquires Shares of 35,387 Akamai Technologies, Inc. (NASDAQ:AKAM)

International Assets Investment Management LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 35,387 shares of the technology infrastructure company’s stock, valued at approximately $41,880,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AKAM. Planned Solutions Inc. purchased a new position in Akamai Technologies during the fourth quarter worth $37,000. Headinvest LLC purchased a new position in shares of Akamai Technologies during the 3rd quarter worth about $40,000. Bruce G. Allen Investments LLC bought a new position in Akamai Technologies during the 4th quarter valued at about $44,000. UMB Bank n.a. raised its position in Akamai Technologies by 144.3% in the 4th quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 332 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Akamai Technologies by 35.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 625 shares of the technology infrastructure company’s stock worth $74,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. KeyCorp lifted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Piper Sandler upped their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Trading Down 0.1 %

AKAM opened at $99.67 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.85 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 has a fifty day moving average price of $106.40 and a 200-day moving average price of $112.08.

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

Insider Buying and Selling at Akamai Technologies

In other news, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock worth $3,368,303 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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.