CX Institutional Buys 1,291 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

CX Institutional increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,958 shares of the technology infrastructure company’s stock after purchasing an additional 1,291 shares during the period. CX Institutional’s holdings in Akamai Technologies were worth $1,005,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in Akamai Technologies by 0.3% in the 4th quarter. American International Group Inc. now owns 45,528 shares of the technology infrastructure company’s stock valued at $5,388,000 after purchasing an additional 151 shares during the period. Kapitalo Investimentos Ltda grew its position in Akamai Technologies by 114.7% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,447 shares of the technology infrastructure company’s stock worth $171,000 after buying an additional 773 shares in the last quarter. Czech National Bank increased its stake 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 worth $2,886,000 after acquiring an additional 121 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of 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 acquiring an additional 10,762 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of 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 acquiring an additional 365 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Tuesday, August 27th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares in the company, valued at $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. Over the last three months, insiders have sold 7,500 shares of company stock valued at $741,655. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.3 %

Shares of NASDAQ AKAM opened at $103.58 on Thursday. The firm’s fifty day moving average is $100.28 and its 200 day moving average is $97.42. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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. The firm had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKAM has been the topic of several research analyst reports. Scotiabank upped their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Wednesday, July 24th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Piper Sandler cut their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies presently 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.