Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by JB Capital LLC

JB Capital LLC lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,212 shares of the technology infrastructure company’s stock after acquiring an additional 1,074 shares during the quarter. JB Capital LLC’s holdings in Akamai Technologies were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its position in shares of Akamai Technologies by 2.0% in the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after acquiring an additional 102 shares during the period. Van ECK Associates Corp increased its stake in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Akamai Technologies by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after purchasing an additional 118 shares in the last quarter. Finally, Garrison Asset Management LLC grew its holdings in Akamai Technologies by 0.6% in the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after purchasing an additional 120 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Down 0.9 %

AKAM traded down $0.92 during trading hours on Thursday, reaching $103.79. The company’s stock had a trading volume of 349,608 shares, compared to its average volume of 1,594,922. The stock has a market cap of $15.73 billion, a PE ratio of 25.92, a P/E/G ratio of 3.22 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50-day moving average is $101.07 and its 200-day moving average is $97.26.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AKAM shares. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $125.00 in a research note on Friday, August 9th. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note 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. Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. Finally, Piper Sandler reduced their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated 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 sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,500 shares of company stock worth $741,655. Company insiders own 1.80% of the company’s stock.

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.