Hantz Financial Services Inc. Invests $574,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Hantz Financial Services Inc. bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,377 shares of the technology infrastructure company’s stock, valued at approximately $574,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in shares of Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after acquiring an additional 6,724 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of Akamai Technologies by 131.6% in the fourth quarter. Cibc World Markets Corp now owns 19,433 shares of the technology infrastructure company’s stock valued at $2,300,000 after acquiring an additional 11,044 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Akamai Technologies by 190.3% in the fourth quarter. Franklin Resources Inc. now owns 73,579 shares of the technology infrastructure company’s stock valued at $8,708,000 after acquiring an additional 48,236 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Akamai Technologies by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock valued at $56,915,000 after acquiring an additional 15,890 shares in the last quarter. Finally, TKG Advisors LLC bought a new position in Akamai Technologies in the fourth quarter worth about $3,245,000. 94.28% of the stock is currently owned by institutional investors.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the transaction, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $617,475 over the last quarter. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AKAM shares. Bank of America reduced their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a report on Friday, May 10th. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a report on Wednesday, July 24th. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Scotiabank boosted their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $101.84 on Monday. The business’s 50 day moving average price is $95.95 and its 200 day moving average price is $99.43. The firm has a market cap of $15.51 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.27 and a beta of 0.67. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. Akamai Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.41 earnings per share for the current year.

Akamai Technologies declared that its Board of Directors has initiated a share buyback plan on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Akamai Technologies Company Profile

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.