Cullen Frost Bankers Inc. Purchases 745 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Cullen Frost Bankers Inc. lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,879 shares of the technology infrastructure company’s stock after purchasing an additional 745 shares during the period. Cullen Frost Bankers Inc.’s holdings in Akamai Technologies were worth $1,051,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AKAM. Planned Solutions Inc. bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $37,000. Headinvest LLC bought a new stake in shares of Akamai Technologies in the third quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC bought a new stake in Akamai Technologies during the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC increased its holdings in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Down 7.2 %

NASDAQ:AKAM opened at $95.12 on Friday. The firm has a market cap of $14.41 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $84.19 and a fifty-two week high of $129.17. The firm has a 50-day simple moving average of $105.68 and a two-hundred day simple moving average of $111.90.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). The firm had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Bank of America decreased their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $118.27.

Insider Activity

In related news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,753 shares of company stock valued at $3,368,303 in the last 90 days. 2.00% of the stock is currently owned by insiders.

About Akamai Technologies

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.