Roberts Wealth Advisors LLC Acquires 325 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Roberts Wealth Advisors LLC increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,595 shares of the technology infrastructure company’s stock after purchasing an additional 325 shares during the period. Roberts Wealth Advisors LLC’s holdings in Akamai Technologies were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. New England Research & Management Inc. bought a new position in shares of Akamai Technologies during the 1st quarter valued at about $769,000. Wealth Enhancement Advisory Services LLC raised its position in Akamai Technologies by 28.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company’s stock valued at $580,000 after buying an additional 1,176 shares during the last quarter. Ballentine Partners LLC raised its position in Akamai Technologies by 17.0% in the 1st quarter. Ballentine Partners LLC now owns 2,509 shares of the technology infrastructure company’s stock valued at $273,000 after buying an additional 365 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Akamai Technologies by 42.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 36,022 shares of the technology infrastructure company’s stock valued at $3,918,000 after buying an additional 10,762 shares during the last quarter. Finally, Czech National Bank raised its position in Akamai Technologies by 0.5% in the 1st quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after buying an additional 121 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

AKAM opened at $90.08 on Monday. The business has a fifty day simple moving average of $94.11 and a 200 day simple moving average of $106.97. The company has a market capitalization of $13.72 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 4.32 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Research analysts expect that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies announced that its board has authorized a share repurchase plan on Thursday, May 9th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the sale, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the sale, the executive vice president now directly owns 9,938 shares in the company, valued at approximately $929,998.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the sale, the director now owns 14,519 shares of the company’s stock, valued at $1,358,107.26. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $826,460 in the last ninety days. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup dropped their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Morgan Stanley lowered their price target on Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Craig Hallum lowered their price target on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Finally, Robert W. Baird lowered their price target on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.00.

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.