Benjamin F. Edwards & Company Inc. Raises Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Benjamin F. Edwards & Company Inc. boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,253 shares of the technology infrastructure company’s stock after purchasing an additional 118 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Akamai Technologies were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AKAM. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies in the 1st quarter worth approximately $31,000. Versant Capital Management Inc raised its position in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares during the period. Innealta Capital LLC purchased a new position in shares of Akamai Technologies during the 2nd quarter worth $28,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at $35,000. Finally, Covestor Ltd raised its holdings in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 310 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a report on Thursday, August 29th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, 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 note on Monday, July 29th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Price Performance

AKAM stock opened at $101.84 on Wednesday. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The firm has a market capitalization of $15.51 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. The company has a fifty day simple moving average of $98.28 and a two-hundred day simple moving average of $98.13. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly 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 net margin of 16.01% and a return on equity of 14.78%. The firm 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 firm earned $1.01 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate 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.