JB Capital LLC Increases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

JB Capital LLC boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,212 shares of the technology infrastructure company’s stock after buying an additional 1,074 shares during the period. JB Capital LLC’s holdings in Akamai Technologies were worth $2,545,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares during the last quarter. Intech Investment Management LLC lifted its stake in Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after purchasing an additional 199,334 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Akamai Technologies during the second quarter valued at approximately $15,314,000. Finally, Renaissance Technologies LLC grew its stake in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $0.92 during trading hours on Thursday, hitting $103.79. 349,608 shares of the company were exchanged, compared to its average volume of 1,594,922. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.22 and a beta of 0.68. The company’s 50 day moving average price is $101.07 and its 200-day moving average price is $97.26.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AKAM shares. Scotiabank boosted their price objective on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. Piper Sandler lowered their price objective on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.47.

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.