Cary Street Partners Asset Management LLC Boosts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cary Street Partners Asset Management LLC boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,771 shares of the technology infrastructure company’s stock after purchasing an additional 2,691 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Akamai Technologies were worth $2,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AKAM. Farther Finance Advisors LLC boosted its stake 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 buying an additional 114 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC bought a new stake in Akamai Technologies in the second quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in Akamai Technologies during the first quarter valued at $31,000. Finally, Family Firm Inc. bought a new position in Akamai Technologies during the second quarter valued at $35,000. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock valued at $741,655. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $100.04 on Tuesday. The company has a market capitalization of $15.16 billion, a PE ratio of 24.76, a P/E/G ratio of 3.24 and a beta of 0.68. The company has a 50-day simple moving average of $101.00 and a two-hundred day simple moving average of $97.21. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the previous year, the business posted $1.01 EPS. Akamai Technologies’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Piper Sandler decreased their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

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.