Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC boosted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 335.0% in the second quarter, HoldingsChannel.com reports. The fund owned 10,819 shares of the technology infrastructure company’s stock after purchasing an additional 8,332 shares during the period. MBB Public Markets I LLC’s holdings in Akamai Technologies were worth $975,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies in the first quarter valued at approximately $31,000. Versant Capital Management Inc boosted its position in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC purchased a new position in Akamai Technologies in the 2nd quarter valued at approximately $28,000. Family Firm Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth $35,000. Finally, Covestor Ltd raised its stake in shares of Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after acquiring an additional 310 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the business’s 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 transaction, the chief technology officer now owns 22,010 shares in the company, valued at approximately $2,216,186.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock worth $741,655. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AKAM. Piper Sandler lowered their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. TD Cowen upped their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, July 29th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 29th. Finally, HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Wednesday, July 24th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Trading Down 0.6 %

AKAM opened at $100.95 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The business’s 50 day moving average is $98.64 and its two-hundred day moving average is $97.88. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating 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 the consensus estimate of $977.67 million. During the same quarter in the prior year, the firm earned $1.01 EPS. Akamai Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

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.