Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 75.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,517 shares of the technology infrastructure company’s stock after purchasing an additional 15,303 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Akamai Technologies were worth $3,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new stake in Akamai Technologies during the 2nd quarter worth about $28,000. EntryPoint Capital LLC purchased a new position in Akamai Technologies in the 1st quarter valued at about $31,000. Family Firm Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth about $35,000. Finally, Covestor Ltd grew its holdings in shares of Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Up 0.6 %

Shares of AKAM traded up $0.64 during mid-day trading on Monday, reaching $102.61. 95,692 shares of the stock traded hands, compared to its average volume of 1,588,268. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.31 and a beta of 0.68. The stock has a fifty day simple moving average of $100.99 and a 200 day simple moving average of $97.23. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $741,655 in the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AKAM. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Monday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a report on Wednesday, July 24th. Finally, Scotiabank increased their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

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.