Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 558,291 shares of the technology infrastructure company’s stock after buying an additional 14,353 shares during the period. Envestnet Asset Management Inc. owned about 0.37% of Akamai Technologies worth $50,291,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd increased its stake in shares of Akamai Technologies by 4.9% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 13,329 shares of the technology infrastructure company’s stock worth $1,201,000 after buying an additional 627 shares during the period. Qsemble Capital Management LP purchased a new position in Akamai Technologies in the second quarter valued at approximately $793,000. Royal London Asset Management Ltd. increased its stake in Akamai Technologies by 2.1% in the second quarter. Royal London Asset Management Ltd. now owns 60,158 shares of the technology infrastructure company’s stock valued at $5,419,000 after purchasing an additional 1,244 shares during the last quarter. Clifford Swan Investment Counsel LLC increased its stake in Akamai Technologies by 4.9% in the second quarter. Clifford Swan Investment Counsel LLC now owns 60,229 shares of the technology infrastructure company’s stock valued at $5,425,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Prudential PLC increased its stake in Akamai Technologies by 19.4% in the second quarter. Prudential PLC now owns 50,288 shares of the technology infrastructure company’s stock valued at $4,530,000 after purchasing an additional 8,182 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were 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 owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

AKAM has been the topic of several recent analyst reports. Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, TD Cowen raised their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $97.41 on Thursday. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The business has a fifty day moving average of $97.84 and a two-hundred day moving average of $98.52. The company has a market cap of $14.84 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released 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. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. During the same quarter last year, the company earned $1.01 earnings per share. Akamai Technologies’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Akamai Technologies, Inc. will post 4.42 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.