First Trust Direct Indexing L.P. Sells 116 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

First Trust Direct Indexing L.P. reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,346 shares of the technology infrastructure company’s stock after selling 116 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Akamai Technologies were worth $278,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Planned Solutions Inc. purchased a new stake in Akamai Technologies during the 4th quarter worth approximately $37,000. Headinvest LLC acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies in the 4th quarter worth $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies during the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC grew its stake in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after purchasing an additional 125 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. raised their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. 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 note on Thursday, February 15th. KeyCorp lifted their target price 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. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Stock Up 0.6 %

Shares of NASDAQ:AKAM opened at $101.67 on Wednesday. The firm’s 50-day moving average is $106.09 and its two-hundred day moving average is $112.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. Akamai Technologies, Inc. has a 1 year low of $78.35 and a 1 year high of $129.17. The firm has a market capitalization of $15.41 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $1.01 earnings per share. Analysts predict 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 8,394 shares of Akamai Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,753 shares of company stock valued at $3,368,303. 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.