Opes Wealth Management LLC Sells 141 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Opes Wealth Management LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,067 shares of the technology infrastructure company’s stock after selling 141 shares during the period. Opes Wealth Management LLC’s holdings in Akamai Technologies were worth $600,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ancora Advisors LLC lifted its stake in shares of Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $37,000. Headinvest LLC bought a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Belpointe Asset Management LLC lifted its stake in shares of Akamai Technologies by 50.1% during the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after acquiring an additional 170 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Up 0.4 %

AKAM stock traded up $0.39 on Thursday, hitting $100.73. 1,388,091 shares of the company’s stock were exchanged, compared to its average volume of 1,656,793. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17. The firm has a 50 day moving average price of $109.12 and a two-hundred day moving average price of $112.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $15.26 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Ratings Changes

AKAM has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Piper Sandler raised their price target on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp raised their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. 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 report on Wednesday, February 14th. Finally, Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $121.27.

Insider Buying and Selling

In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is owned by company insiders.

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.