Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,540 shares of the technology infrastructure company’s stock after selling 1,225 shares during the quarter. Forza Wealth Management LLC’s holdings in Akamai Technologies were worth $537,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Akamai Technologies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares in the last quarter. Geode Capital Management LLC boosted its stake in Akamai Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 3,549,920 shares of the technology infrastructure company’s stock valued at $277,564,000 after purchasing an additional 47,727 shares in the last quarter. Legal & General Group Plc boosted its stake in Akamai Technologies by 5.7% during the 4th quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock valued at $229,628,000 after purchasing an additional 147,339 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Akamai Technologies by 3.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,217,918 shares of the technology infrastructure company’s stock valued at $186,970,000 after purchasing an additional 64,041 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Akamai Technologies by 59.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock valued at $164,052,000 after purchasing an additional 785,055 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the transaction, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the transaction, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The disclosure for this sale can be found here. In the last three months, insiders sold 37,353 shares of company stock valued at $4,159,203. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Susquehanna began coverage on Akamai Technologies in a research note on Friday, December 15th. They set a “positive” rating and a $150.00 price target for the company. KeyCorp raised their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $106.24 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 3.02 and a beta of 0.72. The company’s fifty day moving average is $112.94 and its two-hundred day moving average is $112.69. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Akamai Technologies 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.