NewSquare Capital LLC Grows Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

NewSquare Capital LLC raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,747 shares of the technology infrastructure company’s stock after purchasing an additional 585 shares during the quarter. NewSquare Capital LLC’s holdings in Akamai Technologies were worth $2,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Akamai Technologies during the fourth quarter valued at about $1,184,000. Quadrature Capital Ltd bought a new position in shares of Akamai Technologies in the third quarter worth approximately $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Akamai Technologies during the fourth quarter valued at approximately $1,879,000. Alpine Global Management LLC bought a new position in Akamai Technologies during the third quarter valued at approximately $2,791,000. Finally, International Assets Investment Management LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $41,880,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 0.5 %

Akamai Technologies stock traded up $0.51 during mid-day trading on Wednesday, hitting $102.27. The company’s stock had a trading volume of 393,144 shares, compared to its average volume of 1,621,960. The company has a 50 day moving average of $107.57 and a 200-day moving average of $112.44. The stock has a market cap of $15.50 billion, a PE ratio of 28.83, a P/E/G ratio of 2.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (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 business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the 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 of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,353 shares of company stock valued at $3,688,883. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AKAM shares. Piper Sandler raised their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. KeyCorp raised their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

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.