Sonoma Private Wealth LLC Purchases 162 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sonoma Private Wealth LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,269 shares of the technology infrastructure company’s stock after purchasing an additional 162 shares during the quarter. Sonoma Private Wealth LLC’s holdings in Akamai Technologies were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. boosted its position in shares of Akamai Technologies by 0.3% in the fourth quarter. American International Group Inc. now owns 45,528 shares of the technology infrastructure company’s stock valued at $5,388,000 after acquiring an additional 151 shares during the period. Czech National Bank grew its position in Akamai Technologies by 0.5% in the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after acquiring an additional 121 shares during the last quarter. Ballentine Partners LLC raised its stake in Akamai Technologies by 17.0% during the first quarter. Ballentine Partners LLC now owns 2,509 shares of the technology infrastructure company’s stock worth $273,000 after acquiring an additional 365 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Akamai Technologies by 28.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company’s stock worth $580,000 after acquiring an additional 1,176 shares in the last quarter. Finally, New England Research & Management Inc. bought a new position in shares of Akamai Technologies in the first quarter worth about $769,000. 94.28% of the stock is currently owned by institutional investors.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated 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 owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’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 sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock traded up $0.32 during mid-day trading on Friday, hitting $105.05. 107,878 shares of the stock were exchanged, compared to its average volume of 1,597,678. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a 50-day simple moving average of $100.54 and a 200 day simple moving average of $97.47. The company has a market capitalization of $16.00 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.31 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32.

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 return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AKAM. Piper Sandler reduced their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. DA Davidson restated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Company 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.