Texas Bank & Trust Co Buys New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Texas Bank & Trust Co acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,300 shares of the technology infrastructure company's stock, valued at approximately $316,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKAM. First Trust Advisors LP boosted its position in Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after acquiring an additional 690,341 shares during the last quarter. Norges Bank purchased a new position in Akamai Technologies in the 4th quarter worth approximately $477,454,000. Earnest Partners LLC boosted its holdings in shares of Akamai Technologies by 2.7% during the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after purchasing an additional 58,013 shares during the last quarter. Northern Trust Corp lifted its position in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock worth $178,085,000 after buying an additional 163,472 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after purchasing an additional 29,888 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares of the company's stock, valued at $2,040,074.12. This represents a 13.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,321 shares of company stock valued at $2,986,916 in the last ninety days. Insiders own 2.00% of the company's stock.

Akamai Technologies Stock Up 0.9%

NASDAQ:AKAM traded up $0.66 during mid-day trading on Thursday, hitting $77.08. The stock had a trading volume of 3,165,695 shares, compared to its average volume of 2,000,610. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The stock has a 50-day simple moving average of $78.14 and a two-hundred day simple moving average of $88.10. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $11.27 billion, a PE ratio of 23.64, a PEG ratio of 2.74 and a beta of 0.82.

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

Analyst Ratings Changes

Several equities analysts have weighed in on AKAM shares. Susquehanna decreased their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, February 21st. Morgan Stanley decreased their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada decreased their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Bank of America downgraded Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Raymond James reduced their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.26.

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.