Envestnet Portfolio Solutions Inc. Buys 2,798 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Envestnet Portfolio Solutions Inc. grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,621 shares of the technology infrastructure company’s stock after purchasing an additional 2,798 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Akamai Technologies were worth $920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC increased its holdings 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 bought a new stake in shares of Akamai Technologies in the 4th quarter worth $57,000. Jones Financial Companies Lllp increased its holdings in shares of Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 6,431 shares of Akamai Technologies stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at approximately $1,146,097.11. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $81.04 on Monday. The stock’s 50-day simple moving average is $90.58 and its 200-day simple moving average is $95.21. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.14. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $100.00 in a report on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Citigroup cut their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Raymond James cut their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

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.