RWA Wealth Partners LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

RWA Wealth Partners LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 37,521 shares of the technology infrastructure company’s stock, valued at approximately $4,441,000.

Other large investors have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth $43,000. Bruce G. Allen Investments LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth $44,000. Headinvest LLC purchased a new position in shares of Akamai Technologies in the third quarter worth $40,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

AKAM opened at $100.88 on Tuesday. The firm has a market capitalization of $15.29 billion, a PE ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17. The firm has a 50 day moving average of $108.03 and a two-hundred day moving average of $112.47. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) 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 firm had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 in the last 90 days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AKAM. Piper Sandler upped their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. KeyCorp increased their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $121.27.

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.