Inceptionr LLC Purchases Shares of 18,106 Akamai Technologies, Inc. (NASDAQ:AKAM)

Inceptionr LLC purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 18,106 shares of the technology infrastructure company's stock, valued at approximately $1,732,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC raised its position in shares of Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company's stock valued at $538,000 after purchasing an additional 103 shares in the last quarter. Van ECK Associates Corp raised its holdings in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company's stock valued at $189,000 after acquiring an additional 105 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Akamai Technologies by 85.7% during the 3rd 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. D.A. Davidson & CO. grew its holdings in Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company's stock worth $894,000 after acquiring an additional 115 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in shares of Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently commented on AKAM shares. TD Cowen downgraded Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price target for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Piper Sandler lowered Akamai Technologies from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, Susquehanna lowered their target price on shares of 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.55.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $3.37 during midday trading on Monday, reaching $84.15. 3,873,227 shares of the company traded hands, compared to its average volume of 2,741,712. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68. The stock has a 50-day moving average price of $93.06 and a 200 day moving average price of $96.60. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $111.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its 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). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the sale, the chief financial officer now owns 34,510 shares of the company's stock, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock worth $3,759,934 over the last ninety days. Company insiders own 1.80% of the company's stock.

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.