16,937 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by G&S Capital LLC

G&S Capital LLC acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,937 shares of the technology infrastructure company’s stock, valued at approximately $2,004,000.

Several other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC increased its stake in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the period. Planned Solutions Inc. bought a new position in Akamai Technologies in the fourth quarter worth approximately $37,000. Headinvest LLC purchased a new position in Akamai Technologies during the 3rd quarter worth $40,000. Belpointe Asset Management LLC raised its position in Akamai Technologies by 50.1% during the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 170 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the fourth quarter valued at about $43,000. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the transaction, the executive vice president now owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,353 shares of company stock worth $4,159,203. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price objective for the company from $109.00 to $96.00 in a report on Thursday, February 15th. KeyCorp increased their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Finally, Piper Sandler upped their price objective on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $0.48 during trading hours on Thursday, hitting $104.86. 420,558 shares of the stock were exchanged, compared to its average volume of 1,672,049. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17. The company has a market cap of $15.89 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.99 and a beta of 0.72. The firm’s fifty day moving average price is $111.85 and its 200 day moving average price is $112.69.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same period in the previous year, the business posted $1.01 earnings per share. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Akamai Technologies 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.