Boston Private Wealth LLC Invests $228,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Boston Private Wealth LLC purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,177 shares of the technology infrastructure company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank lifted its stake in Akamai Technologies by 294.1% in the third quarter. Huntington National Bank now owns 268 shares of the technology infrastructure company’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of Akamai Technologies by 896.3% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 269 shares of the technology infrastructure company’s stock valued at $31,000 after purchasing an additional 242 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Akamai Technologies by 38.3% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $59,000 after purchasing an additional 141 shares during the last quarter. JJJ Advisors Inc. boosted its holdings in Akamai Technologies by 35.0% in the third quarter. JJJ Advisors Inc. now owns 567 shares of the technology infrastructure company’s stock worth $59,000 after purchasing an additional 147 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its position in Akamai Technologies by 35.0% during the second quarter. Berman Capital Advisors LLC now owns 617 shares of the technology infrastructure company’s stock worth $71,000 after buying an additional 160 shares during the last quarter. 88.60% of the stock is owned by institutional investors and hedge funds.

AKAM has been the subject of several recent analyst reports. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $133.00 to $127.00 in a research note on Wednesday, January 5th. DA Davidson reaffirmed a “buy” rating on shares of Akamai Technologies in a research report on Monday, January 3rd. Oppenheimer lowered shares of Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Wednesday, November 3rd. Finally, JPMorgan Chase & Co. lowered shares of Akamai Technologies from a “neutral” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research note on Tuesday, December 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $128.83.

AKAM stock opened at $112.62 on Friday. Akamai Technologies, Inc. has a twelve month low of $92.64 and a twelve month high of $124.91. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.43. The company has a market cap of $18.30 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.54. The business’s 50-day simple moving average is $113.22 and its 200 day simple moving average is $112.39.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, November 2nd. The technology infrastructure company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.06. The company had revenue of $860.33 million during the quarter, compared to the consensus estimate of $852.50 million. Akamai Technologies had a return on equity of 16.98% and a net margin of 17.77%. During the same quarter last year, the company earned $1.11 EPS. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.57 EPS for the current year.

Akamai Technologies announced that its board has authorized a stock buyback program on Tuesday, November 2nd that permits the company to repurchase $1.80 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to buy up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In other news, insider Rick M. Mcconnell sold 6,164 shares of the stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $110.12, for a total value of $678,779.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $104.15, for a total value of $624,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,325 shares of company stock valued at $1,894,557. 2.40% of the stock is owned by company insiders.

Akamai Technologies Profile

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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