G&S Capital LLC Invests $2 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

G&S Capital LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,937 shares of the technology infrastructure company's stock, valued at approximately $2,004,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC increased its stake in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company's stock worth $25,000 after purchasing an additional 127 shares during the period. Planned Solutions Inc. purchased a new position in shares of Akamai Technologies during the fourth quarter valued at $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at $43,000. Bruce G. Allen Investments LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at $44,000. Finally, Headinvest LLC purchased a new position in shares of Akamai Technologies during the third quarter valued at $40,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AKAM shares. Robert W. Baird upgraded Akamai Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. HSBC lowered Akamai Technologies from a "hold" rating to a "reduce" rating and cut their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. Piper Sandler lifted their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lifted their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an "underweight" rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $119.50.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares of the company's stock, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now directly owns 14,938 shares of the company's stock, valued at $1,624,208.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 14,349 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares of the company's stock, valued at $735,196.66. The disclosure for this sale can be found here. Insiders sold 37,353 shares of company stock valued at $4,159,203 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock traded up $0.71 on Thursday, reaching $105.09. 1,362,254 shares of the stock were exchanged, compared to its average volume of 1,685,946. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.99 and a beta of 0.72. The business has a 50 day moving average price of $111.47 and a two-hundred day moving average price of $112.63.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company's revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal 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.