Prospera Financial Services Inc Makes New $ 104,000 Investment in Akamai Technologies, Inc. (NASDAQ: AKAM)


Prospera Financial Services Inc bought a new position in Akamai Technologies, Inc. (NASDAQ: AKAM – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 870 shares of the technology infrastructure company’s stock, valued at approximately $ 104,000.

Several other large investors have also bought and sold shares of AKAM. Lombard Odier Asset Management Europe Ltd raised its holdings in Akamai Technologies by 10,159.2% in the fourth quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure of the company’s stock worth $ 63,892,000 after buying an additional 53,972,730 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $ 154,558,000. Assenagon Asset Management SA raised its holdings in shares of Akamai Technologies by 892.9% during the first quarter. Assenagon Asset Management SA now owns 628,180 shares of the technology infrastructure company’s stock valued at $ 74,998,000 after purchasing an additional 564,910 shares during the last quarter. Korea Investment CORP raised its holdings in shares of Akamai Technologies by 516.9% during the fourth quarter. Korea Investment CORP now owns 383,105 shares of the technology infrastructure company’s stock valued at $ 44,839,000 after purchasing an additional 321,000 shares during the last quarter. Finally, Alliancebernstein LP raised its holdings in shares of Akamai Technologies by 15.8% during the fourth quarter. Alliancebernstein LP now owns 2,259,687 shares of the technology infrastructure company’s stock valued at $ 264,474,000 after purchasing an additional 308,711 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

AKAM opened at $ 96.28 on Friday. The firm has a market cap of $ 15.43 billion, a P / E ratio of 25.88, a PEG ratio of 1.88 and a beta of 0.64. Akamai Technologies, Inc. has a 1-year low of $ 85.90 and a 1-year high of $ 123.25. The company has a 50 day simple moving average of $ 93.72 and a two-hundred day simple moving average of $ 104.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.68 and a quick ratio of 1.68.

Akamai Technologies (NASDAQ: AKAM – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The technology infrastructure company reported $ 1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $ 1.13 by ($ 0.01). The firm had revenue of $ 903.65 million during the quarter, compared to the consensus estimate of $ 904.89 million. Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $ 1.10 earnings per share. Equities analysts forecast that Akamai Technologies, Inc. will post 4.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $ 97.68, for a total transaction of $ 488,400.00. Following the completion of the transaction, the chief technology officer now owns 19,725 shares in the company, valued at $ 1,926,738. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $ 97.68, for a total transaction of $ 488,400.00. Following the completion of the transaction, the chief technology officer now owns 19,725 shares in the company, valued at $ 1,926,738. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $ 95.22, for a total transaction of $ 1,190,250.00. Following the transaction, the executive vice president now owns 32,573 shares of the company’s stock, valued at approximately $ 3,101,601.06. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

AKAM has been the subject of several research reports. Piper Sandler decreased their price objective on shares of Akamai Technologies from $ 118.00 to $ 102.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. Cowen decreased their price objective on shares of Akamai Technologies from $ 186.00 to $ 164.00 in a report on Wednesday, May 4th. Citigroup cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $ 118.00 to $ 105.00 in a report on Friday, July 22nd. Raymond James cut their target price on shares of Akamai Technologies from $ 118.00 to $ 115.00 in a research report on Wednesday, May 4th. Finally, Royal Bank of Canada cut their target price on shares of Akamai Technologies from $ 140.00 to $ 135.00 in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $ 121.91.

Akamai Technologies Company Profile

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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



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