Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,204 shares of the technology infrastructure company’s stock after buying an additional 242 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Akamai Technologies were worth $1,232,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Akamai Technologies by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after buying an additional 28,304 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Akamai Technologies by 17.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock valued at $20,132,000 after buying an additional 27,484 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Akamai Technologies during the first quarter worth $1,093,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Akamai Technologies in the first quarter worth $2,610,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AKAM. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Piper Sandler reduced their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $101.97 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.53 billion, a PE ratio of 25.37, a P/E/G ratio of 3.31 and a beta of 0.68. The company’s fifty day simple moving average is $100.99 and its 200-day simple moving average is $97.36. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released 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. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’s 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 transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 in the last 90 days. 1.80% of the stock is owned by company insiders.

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.