Total Clarity Wealth Management Inc. Decreases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Total Clarity Wealth Management Inc. reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,983 shares of the technology infrastructure company’s stock after selling 163 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Akamai Technologies were worth $269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Akamai Technologies in the fourth quarter worth about $325,242,000. Dimensional Fund Advisors LP increased its stake in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after purchasing an additional 222,290 shares during the period. Intech Investment Management LLC lifted its stake in Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares during the last quarter. Finally, FIL Ltd grew its holdings in Akamai Technologies by 14.5% during the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after purchasing an additional 186,124 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $99.29 on Tuesday. The stock has a market cap of $15.12 billion, a P/E ratio of 24.70, a PEG ratio of 3.10 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $97.73 and its two-hundred day moving average price is $98.61. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same period in the prior year, the business earned $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the 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 of the company’s stock, valued at $2,987,401.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock valued at $741,655. Insiders own 1.80% of the company’s stock.

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.