Hedge funds and institutional investors have recently traded shares of Akamai Technologies. Zions Bancorporation, Ancora Advisors, Newbridge Financial Services Group, Belpointe Asset Management, and General Partner have all increased their positions. The company provides cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. Founded in 1998, Akamai Technologies has become a reputable brand in the industry.
Akamai Technologies CEO Acquires $25,035.50 in AKAM Stock
F Thomson Leighton, the CEO of Akamai Technologies Inc. (NASDAQ:AKAM), recently purchased a total of 350 shares of the company’s stock on Wednesday, March 15th. This was in addition to several other recent purchases made by Leighton, including 343 shares on March 17th, 349 shares on March 13th, 336 shares on March 9th, 333 shares on March 7th, 342 shares on February 27th, 337 shares on February 24th, 325 shares on February 21st, 290 shares on February 10th, 284 shares on February 8th, and 282 shares on February 6th.
The stock was purchased at an average price of $71.53 per share, totaling $25,035.50 for the recent acquisition. As the CEO of the company, Leighton’s purchase indicates confidence in the direction and future of the company, which could be seen as a positive signal for investors.
AKAM stock opened at $73.61 on Monday and has a 50-day moving average of $81.68 and a 200-day moving average of $85.01. The company’s market capitalization is $11.50 billion with a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.70, and a beta of 0.78. The company has a 1-year low of $70.65 and a 1-year high of $123.25.
Furthermore, the company has a debt-to-equity ratio of 0.52 and a quick ratio of 2.41, indicating its ability to meet its short-term obligations.
Overall, Leighton’s recent acquisition of AKAM stock shows his faith in the company, potentially boosting investor confidence in the stock.
Akamai Technologies Reports Q4 Earnings
On Tuesday, February 14th, Akamai Technologies Inc. (NASDAQ:AKAM – Get Rating) released its quarterly earnings report, announcing earnings per share (EPS) of $1.37 for the quarter, surpassing the consensus estimate of $1.26 by $0.11. During the quarter, the technology infrastructure company generated $927.78 million in revenue, exceeding analysts’ expectations of $904.80 million. Akamai Technologies reported a net margin of 13.15% and a return on equity of 15.12%. The company’s revenue increased by 2.5% compared to the same period the previous year, during which they posted an EPS of $1.26. Wall Street analysts forecast that the company will have an EPS of 4.26 for the current fiscal year.
Analyst Ratings
Several analysts have weighed in on Akamai Technologies’ stock. Tigress Financial lowered its price target from $168.00 to $132.00 in a research report published on Wednesday, December 7th. Royal Bank of Canada downgraded Akamai Technologies from an “outperform” rating to a “sector perform” rating and lowered its price target for the stock from $100.00 to $85.00 in a research report published on Wednesday, February 15th. Guggenheim initiated coverage of Akamai Technologies with a “sell” rating and a $75.00 price target in a research report published on Monday, January 23rd. Cowen lowered its price target from $137.00 to $105.00 and rated the company as “outperform” in a research report published on Wednesday, February 15th. StockNews.com gave Akamai Technologies a “buy” rating in a report on Thursday. As of now, one analyst has rated the stock as a sell, six have issued a hold rating, and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Hold” and an average price target of $100.63.
Hedge Fund Activity
There is no information available in the given text regarding hedge fund activity on Akamai Technologies’ stock.
Several hedge funds and institutional investors have purchased and sold Akamai Technologies’ shares. During the third quarter, Zions Bancorporation N.A. increased its position in the company by 73.7% and now owns 311 shares worth $25,000 after buying 132 additional shares. Ancora Advisors LLC increased its position in Akamai Technologies by 103.3% during the first quarter, owning 250 shares worth $25,000 after buying 127 more shares. Newbridge Financial Services Group Inc. increased its position by 625.0% during the fourth quarter, owning 348 shares worth $29,000 after buying 300 additional shares. Belpointe Asset Management LLC purchased a new position in the company during the fourth quarter worth $29,000. Finally, General Partner Inc. purchased a new position during the fourth quarter worth $31,000. As of now, hedge funds and other institutional investors own 90.41% of the company’s stock.
Company Overview
Akamai Technologies, Inc. (Get Rating) provides cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, and Randall S. in 1998.
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