Raymond James Trust N.A. Purchases New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Raymond James Trust N.A. purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,730 shares of the technology infrastructure company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently bought and sold shares of the business. Ancora Advisors LLC boosted its position in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Akamai Technologies during the 4th quarter valued at approximately $44,000. Headinvest LLC bought a new stake in Akamai Technologies during the 3rd quarter valued at approximately $40,000. Close Asset Management Ltd boosted its position in Akamai Technologies by 69.4% during the 3rd quarter. Close Asset Management Ltd now owns 488 shares of the technology infrastructure company’s stock valued at $52,000 after acquiring an additional 200 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its position in Akamai Technologies by 50.1% during the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $109.63 on Thursday. Akamai Technologies, Inc. has a twelve month low of $75.88 and a twelve month high of $129.17. The firm has a market cap of $16.61 billion, a P/E ratio of 31.06, a PEG ratio of 3.06 and a beta of 0.72. The company has a 50 day moving average of $114.98 and a 200 day moving average of $112.61. 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 (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

AKAM has been the topic of several research reports. KeyCorp lifted 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. Piper Sandler boosted their price target on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price target for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Finally, Susquehanna initiated coverage on Akamai Technologies in a research report on Friday, December 15th. They issued a “positive” rating and a $150.00 price target on the stock. Two 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the sale, the executive vice president now directly owns 20,065 shares in the company, valued at approximately $2,359,242.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total value of $470,320.00. Following the completion of the sale, the executive vice president now owns 20,065 shares of the company’s stock, valued at $2,359,242.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,353 shares of company stock worth $4,159,203. Insiders own 1.80% of the company’s stock.

Akamai Technologies Company 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.