Elevation Point Wealth Partners LLC Purchases 1,300 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Elevation Point Wealth Partners LLC raised its position in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 17.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,961 shares of the technology infrastructure company’s stock after buying an additional 1,300 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Akamai Technologies were worth $721,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Akamai Technologies during the 4th quarter valued at approximately $477,454,000. First Trust Advisors LP grew its holdings in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares during the last quarter. National Pension Service grew its holdings in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Akamai Technologies by 5,951.4% during the 1st quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company’s stock valued at $20,445,000 after purchasing an additional 249,781 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock valued at $74,473,000 after purchasing an additional 235,394 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Down 1.9%

NASDAQ:AKAM opened at $77.03 on Monday. The firm’s fifty day moving average is $77.26 and its 200-day moving average is $86.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The firm has a market cap of $11.26 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.74 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.64 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In related news, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer now owns 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president now owns 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AKAM shares. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Raymond James decreased their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. KeyCorp started coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an “underweight” rating and a $63.00 price target on the stock. Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada cut their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.25.

View Our Latest Stock Report on AKAM

Akamai Technologies Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAMFree Report).

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.