Jones Financial Companies Lllp Raises Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Jones Financial Companies Lllp boosted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 443.2% in the fourth quarter, HoldingsChannel reports. The fund owned 804 shares of the technology infrastructure company’s stock after purchasing an additional 656 shares during the quarter. Jones Financial Companies Lllp’s holdings in Akamai Technologies were worth $77,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its position in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at about $57,000. Principal Securities Inc. grew its stake in shares of Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of Akamai Technologies during the third quarter valued at about $209,000. Finally, Caprock Group LLC purchased a new position in shares of Akamai Technologies in the 3rd quarter valued at approximately $252,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on AKAM shares. UBS Group started coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Susquehanna cut their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.55.

Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. This represents a 11.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last 90 days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 2.6 %

Shares of AKAM opened at $80.73 on Monday. The firm has a market cap of $12.14 billion, a P/E ratio of 24.76, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.18. The stock’s 50 day moving average is $91.62 and its two-hundred day moving average is $95.88. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.