3,295 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,295 shares of the technology infrastructure company's stock, valued at approximately $265,000.

A number of other large investors have also recently added to or reduced their stakes in AKAM. Brighton Jones LLC lifted its stake in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock valued at $384,000 after acquiring an additional 2,022 shares during the last quarter. Empowered Funds LLC lifted its stake in Akamai Technologies by 11.0% in the fourth quarter. Empowered Funds LLC now owns 4,124 shares of the technology infrastructure company's stock valued at $394,000 after acquiring an additional 409 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Akamai Technologies by 67.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 170,856 shares of the technology infrastructure company's stock valued at $16,303,000 after acquiring an additional 68,681 shares during the last quarter. Van ECK Associates Corp lifted its stake in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after acquiring an additional 910 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Akamai Technologies by 7.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 58,958 shares of the technology infrastructure company's stock valued at $5,717,000 after acquiring an additional 4,331 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Raymond James cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Finally, Morgan Stanley cut their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.25.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $77.03 on Monday. The stock has a market capitalization of $11.26 billion, a PE ratio of 23.63, a P/E/G ratio of 2.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The business has a fifty day moving average price of $77.26 and a two-hundred day moving average price of $86.13. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $1.64 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president now directly owns 43,575 shares in the company, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam Karon sold 3,927 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer now owns 10,809 shares of the company's stock, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

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.

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