Akamai Technologies, Inc. (NASDAQ:AKAM) Stake Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 602,922 shares of the technology infrastructure company's stock after purchasing an additional 37,673 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Akamai Technologies worth $57,670,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AKAM. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after acquiring an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the fourth quarter worth about $57,000. TCTC Holdings LLC grew its position in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its position in shares of Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after purchasing an additional 472 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Activity

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares of the company's stock, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Trading Up 0.4 %

AKAM traded up $0.29 during trading on Tuesday, hitting $74.44. 171,501 shares of the company's stock were exchanged, compared to its average volume of 1,914,108. The stock has a 50 day moving average price of $83.71 and a 200 day moving average price of $92.50. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. 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 firm has a market cap of $10.88 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

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

Analyst Ratings Changes

AKAM has been the topic of a number of recent research reports. Piper Sandler reduced their target price on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Bank of America cut Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Raymond James decreased their price objective on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Scotiabank cut their target price on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $105.55.

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.