Mission Wealth Management LP Invests $5.55 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mission Wealth Management LP bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 46,855 shares of the technology infrastructure company’s stock, valued at approximately $5,545,000.

A number of other large investors also recently made changes to their positions in AKAM. Handelsbanken Fonder AB grew its position in Akamai Technologies by 3.9% during the third quarter. Handelsbanken Fonder AB now owns 48,899 shares of the technology infrastructure company’s stock worth $5,210,000 after buying an additional 1,856 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $229,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Akamai Technologies by 707.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,961 shares of the technology infrastructure company’s stock worth $4,577,000 after purchasing an additional 37,639 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Akamai Technologies by 92.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 335,766 shares of the technology infrastructure company’s stock worth $35,773,000 after purchasing an additional 161,113 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Akamai Technologies by 0.5% in the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after purchasing an additional 110 shares during the period. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.8 %

AKAM stock traded down $0.85 during trading on Tuesday, reaching $100.93. The company had a trading volume of 1,689,695 shares, compared to its average volume of 1,603,773. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The business has a 50 day moving average of $106.82 and a 200 day moving average of $112.28. The company has a market cap of $15.29 billion, a P/E ratio of 28.83, a PEG ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share 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 during the quarter, compared to the consensus estimate of $999.09 million. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other 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 sale, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies 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 completion of the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Adam Karon sold 8,394 shares of Akamai Technologies 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 sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of a number of analyst reports. KeyCorp boosted 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. Citigroup lowered 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. HSBC cut 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. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Piper Sandler upped their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.60.

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.