Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,292 shares of the technology infrastructure company’s stock after buying an additional 2,379 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Akamai Technologies were worth $3,058,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AKAM. Robinson Value Management Ltd. lifted its holdings in shares of Akamai Technologies by 0.8% in the 3rd quarter. Robinson Value Management Ltd. now owns 21,635 shares of the technology infrastructure company’s stock valued at $2,184,000 after buying an additional 181 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Akamai Technologies by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock valued at $10,315,000 after acquiring an additional 12,913 shares during the period. Blue Trust Inc. boosted its position in shares of Akamai Technologies by 42.4% during the 3rd quarter. Blue Trust Inc. now owns 7,062 shares of the technology infrastructure company’s stock worth $713,000 after purchasing an additional 2,101 shares in the last quarter. Sonoma Private Wealth LLC grew its stake in shares of Akamai Technologies by 3.2% during the 3rd quarter. Sonoma Private Wealth LLC now owns 5,269 shares of the technology infrastructure company’s stock worth $532,000 after purchasing an additional 162 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in shares of Akamai Technologies by 2.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock valued at $516,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler lowered their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. 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. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a report on Wednesday, July 24th. Finally, Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Stock Down 2.6 %

AKAM stock opened at $102.72 on Thursday. The firm has a fifty day moving average price of $100.86 and a two-hundred day moving average price of $97.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The firm has a market cap of $15.65 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million during 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%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Research analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The stock was 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 owns 22,010 shares in the company, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $741,655 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.