RWA Wealth Partners LLC Takes $4.44 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

RWA Wealth Partners LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, Holdings Channel.com reports. The firm bought 37,521 shares of the technology infrastructure company’s stock, valued at approximately $4,441,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKAM. Planned Solutions Inc. purchased a new position in Akamai Technologies in the fourth quarter worth $37,000. Headinvest LLC purchased a new position in Akamai Technologies in the third quarter worth $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies in the fourth quarter worth $43,000. Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at about $44,000. Finally, Lindbrook Capital LLC boosted its position in Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after buying an additional 125 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AKAM shares. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Piper Sandler upped their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Finally, KeyCorp increased their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $100.88 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $15.29 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The firm’s fifty day moving average is $108.03 and its two-hundred day moving average is $112.47. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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 net margin of 14.37% and a return on equity of 14.90%. The business had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Insider Activity

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is currently owned by corporate insiders.

About Akamai Technologies

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.