Ballentine Partners LLC Invests $311,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ballentine Partners LLC purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 3,080 shares of the technology infrastructure company’s stock, valued at approximately $311,000.

Several other hedge funds have also made changes to their positions in the business. E. Ohman J or Asset Management AB lifted its position in shares of Akamai Technologies by 25.4% during the third quarter. E. Ohman J or Asset Management AB now owns 7,400 shares of the technology infrastructure company’s stock worth $747,000 after purchasing an additional 1,500 shares in the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of Akamai Technologies by 2.0% during the third quarter. Mount Yale Investment Advisors LLC now owns 12,204 shares of the technology infrastructure company’s stock worth $1,232,000 after buying an additional 242 shares during the period. X Square Capital LLC increased its stake in shares of Akamai Technologies by 25.0% during the third quarter. X Square Capital LLC now owns 3,288 shares of the technology infrastructure company’s stock worth $332,000 after buying an additional 658 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Akamai Technologies during the third quarter worth approximately $30,470,000. Finally, Private Advisor Group LLC increased its stake in shares of Akamai Technologies by 8.0% during the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after buying an additional 477 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last three months. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

AKAM stock opened at $102.85 on Tuesday. The company has a market capitalization of $15.67 billion, a P/E ratio of 25.58, a PEG ratio of 3.31 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The business has a 50 day simple moving average of $101.02 and a 200-day simple moving average of $97.22. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AKAM. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Scotiabank upped their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 24th. Tigress Financial restated a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Company 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.