Truvestments Capital LLC Acquires 176 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Truvestments Capital LLC boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,935 shares of the technology infrastructure company’s stock after purchasing an additional 176 shares during the period. Truvestments Capital LLC’s holdings in Akamai Technologies were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Empirical Finance LLC grew its stake in Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the last quarter. Van ECK Associates Corp grew its stake in Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after buying an additional 105 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. D.A. Davidson & CO. grew its stake in Akamai Technologies by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after buying an additional 115 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its stake in Akamai Technologies by 1.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after buying an additional 116 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the completion of the transaction, the chief operating officer now owns 14,239 shares of the company’s stock, valued at approximately $1,146,097.11. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock valued at $3,759,934 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 1.2 %

Shares of AKAM stock opened at $79.66 on Thursday. The firm has a fifty day moving average of $92.21 and a 200-day moving average of $96.21. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $110.79. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.