Edgestream Partners L.P. Invests $1.09 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Edgestream Partners L.P. purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,397 shares of the technology infrastructure company's stock, valued at approximately $1,090,000.

Several other hedge funds have also recently modified their holdings of AKAM. Farther Finance Advisors LLC increased its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies in the fourth quarter worth about $49,000. Bruce G. Allen Investments LLC increased its position in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies in the fourth quarter worth about $57,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock worth $77,000 after acquiring an additional 656 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research note on Friday, February 21st. Raymond James dropped their price target on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. JPMorgan Chase & Co. dropped their price target on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Finally, Susquehanna dropped their price target on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.55.

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Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Karon sold 5,628 shares of Akamai Technologies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the completion of the transaction, the chief operating officer now owns 24,597 shares in the company, valued at approximately $2,120,261.40. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,176 shares of company stock worth $3,759,934. 1.80% of the stock is owned by insiders.

Akamai Technologies Trading Down 4.2 %

Shares of Akamai Technologies stock opened at $80.65 on Wednesday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.79. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.12 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a 50-day moving average of $92.53 and a two-hundred day moving average of $96.33.

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

Akamai Technologies Profile

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.

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