Opes Wealth Management LLC Lowers Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Opes Wealth Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,067 shares of the technology infrastructure company’s stock after selling 141 shares during the quarter. Opes Wealth Management LLC’s holdings in Akamai Technologies were worth $600,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after buying an additional 97 shares during the period. ORG Partners LLC grew its stake in shares of Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA lifted its holdings in shares of Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Akamai Technologies by 0.5% during the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after acquiring an additional 110 shares in the last quarter. Finally, Capital Analysts LLC lifted its holdings in shares of Akamai Technologies by 15.5% during the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after acquiring an additional 115 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders sold a total of 33,353 shares of company stock valued at $3,688,883 in the last quarter. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.4 %

Shares of Akamai Technologies stock traded up $0.39 during trading on Thursday, reaching $100.73. The company had a trading volume of 1,388,091 shares, compared to its average volume of 1,656,793. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The firm’s fifty day moving average is $109.12 and its 200-day moving average is $112.45. 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 $76.85 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same quarter in the prior year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on AKAM. KeyCorp lifted their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Piper Sandler lifted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.27.

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.