Dohj LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Dohj LLC acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,295 shares of the technology infrastructure company's stock, valued at approximately $346,000.

Several other institutional investors have also made changes to their positions in AKAM. Elevation Point Wealth Partners LLC lifted its stake in Akamai Technologies by 17.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 8,961 shares of the technology infrastructure company's stock worth $721,000 after purchasing an additional 1,300 shares during the last quarter. Smithbridge Asset Management Inc. DE acquired a new position in Akamai Technologies during the 1st quarter worth about $2,785,000. Tobam boosted its holdings in Akamai Technologies by 2.0% in the first quarter. Tobam now owns 36,987 shares of the technology infrastructure company's stock valued at $2,977,000 after acquiring an additional 735 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Akamai Technologies by 24.6% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 37,034 shares of the technology infrastructure company's stock valued at $2,980,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Akamai Technologies by 595.7% during the first quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock valued at $130,000 after acquiring an additional 1,382 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AKAM. JPMorgan Chase & Co. reduced their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Royal Bank Of Canada decreased their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their target price for the company from $125.00 to $98.00 in a report on Friday, February 21st. Piper Sandler reissued a "neutral" rating and issued a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.25.

Insiders Place Their Bets

In other news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the sale, the chief operating officer now owns 10,809 shares of the company's stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded up $0.02 during trading on Wednesday, hitting $78.70. The stock had a trading volume of 2,814,956 shares, compared to its average volume of 2,047,197. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.53 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The business's 50-day moving average is $77.54 and its 200 day moving average is $85.98. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.