Sonoma Private Wealth LLC Increases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sonoma Private Wealth LLC increased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,759 shares of the technology infrastructure company’s stock after buying an additional 490 shares during the quarter. Sonoma Private Wealth LLC’s holdings in Akamai Technologies were worth $551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AKAM. Private Advisor Group LLC boosted its stake in shares of Akamai Technologies by 8.0% in the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after purchasing an additional 477 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Van ECK Associates Corp boosted its stake in shares of Akamai Technologies by 6.1% in the third 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 during the period. Intact Investment Management Inc. boosted its stake in shares of Akamai Technologies by 38.9% in the third quarter. Intact Investment Management Inc. now owns 6,750 shares of the technology infrastructure company’s stock valued at $681,000 after purchasing an additional 1,890 shares during the period. Finally, National Pension Service boosted its stake in shares of Akamai Technologies by 0.8% in the third quarter. National Pension Service now owns 45,869 shares of the technology infrastructure company’s stock valued at $4,630,000 after purchasing an additional 350 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Up 3.6 %

AKAM stock opened at $80.68 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36. The firm’s 50-day simple moving average is $94.44 and its 200 day simple moving average is $97.24. The stock has a market cap of $12.13 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

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.