Asset Dedication LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Asset Dedication LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,333 shares of the technology infrastructure company’s stock, valued at approximately $135,000.

Other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. grew its stake in Akamai Technologies by 0.3% in the 4th quarter. American International Group Inc. now owns 45,528 shares of the technology infrastructure company’s stock valued at $5,388,000 after buying an additional 151 shares during the last quarter. Czech National Bank grew its position in Akamai Technologies by 0.5% during the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock worth $2,886,000 after buying an additional 121 shares in the last quarter. Ballentine Partners LLC increased its stake in Akamai Technologies by 17.0% during the first quarter. Ballentine Partners LLC now owns 2,509 shares of the technology infrastructure company’s stock valued at $273,000 after acquiring an additional 365 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Akamai Technologies by 28.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company’s stock valued at $580,000 after acquiring an additional 1,176 shares in the last quarter. Finally, New England Research & Management Inc. bought a new stake in shares of Akamai Technologies in the 1st quarter worth approximately $769,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $104.73 on Friday. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17. The company’s 50-day moving average is $100.54 and its two-hundred day moving average is $97.47. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.95 billion, a PE ratio of 26.05, a PEG ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (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 analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 in the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on AKAM shares. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, July 29th. Piper Sandler lowered their target price on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

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.