Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,352 shares of the technology infrastructure company's stock after purchasing an additional 3,763 shares during the period. Avantax Advisory Services Inc.'s holdings in Akamai Technologies were worth $2,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the 4th quarter valued at about $49,000. Banque Cantonale Vaudoise grew its position in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock valued at $4,481,000 after purchasing an additional 20,633 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock valued at $90,083,000 after purchasing an additional 11,272 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after purchasing an additional 910 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock worth $19,018,000 after purchasing an additional 46,335 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Karon sold 6,431 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the completion of the transaction, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at approximately $1,146,097.11. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,394 shares of company stock valued at $3,019,323. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Evercore ISI reiterated an "outperform" rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Piper Sandler lowered shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $112.00 to $100.00 in a report on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Finally, Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $106.55.

Akamai Technologies Stock Down 1.0 %

AKAM traded down $0.86 during trading on Thursday, hitting $81.55. The company had a trading volume of 1,862,463 shares, compared to its average volume of 2,737,548. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a market cap of $12.26 billion, a PE ratio of 25.02, a P/E/G ratio of 2.74 and a beta of 0.68. The business has a 50-day moving average of $90.98 and a 200-day moving average of $95.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.