Great Valley Advisor Group Inc. Buys 873 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) – Defense World
Posted by admin on Jul 3rd, 2022 
Great Valley Advisor Group Inc. increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 30.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,749 shares of the technology infrastructure company’s stock after acquiring an additional 873 shares during the period. Great Valley Advisor Group Inc.’s holdings in Akamai Technologies were worth $448,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in Akamai Technologies during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. boosted its position in shares of Akamai Technologies by 866.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 232 shares of the technology infrastructure company’s stock valued at $27,000 after purchasing an additional 208 shares in the last quarter. Baystate Wealth Management LLC grew its stake in Akamai Technologies by 33.3% in the first quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 100 shares during the period. UMB Bank N A MO bought a new position in Akamai Technologies in the fourth quarter worth $47,000. Finally, Covestor Ltd purchased a new position in Akamai Technologies during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
Several research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Akamai Technologies in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Robert W. Baird reissued a “neutral” rating and issued a $102.00 target price on shares of Akamai Technologies in a report on Friday, May 20th. Piper Sandler reduced their price target on Akamai Technologies from $126.00 to $118.00 in a report on Wednesday, May 4th. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $140.00 to $135.00 in a research note on Wednesday, May 4th. Finally, Raymond James reduced their price objective on shares of Akamai Technologies from $118.00 to $115.00 in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $127.50.
Shares of Akamai Technologies stock opened at $92.12 on Friday. Akamai Technologies, Inc. has a twelve month low of $86.99 and a twelve month high of $123.25. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $99.05 and its 200 day moving average is $108.73. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its 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 company had revenue of $903.65 million for the quarter, compared to analysts’ expectations of $904.89 million. Akamai Technologies had a net margin of 17.46% and a return on equity of 17.42%. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.27 EPS for the current fiscal year.
In other Akamai Technologies news, CTO Robert Blumofe sold 3,308 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $119.19, for a total value of $394,280.52. Following the transaction, the chief technology officer now directly owns 24,725 shares in the company, valued at $2,946,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $95.22, for a total transaction of $1,190,250.00. Following the sale, the executive vice president now directly 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. In the last three months, insiders sold 36,867 shares of company stock worth $3,966,608. 1.70% of the stock is owned by corporate insiders.
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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