Trust Asset Management LLC Takes $216,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Trust Asset Management LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,821 shares of the technology infrastructure company’s stock, valued at approximately $216,000.

Other institutional investors have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $37,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $43,000. Bruce G. Allen Investments LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $44,000. Headinvest LLC bought a new stake in shares of Akamai Technologies during the third quarter worth about $40,000. Finally, Lindbrook Capital LLC increased its position in shares of Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AKAM. JPMorgan Chase & Co. boosted their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. KeyCorp upped their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Price Performance

NASDAQ:AKAM traded down $0.40 during trading hours on Thursday, hitting $101.79. 1,139,181 shares of the stock traded hands, compared to its average volume of 1,623,721. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The stock has a 50 day moving average price of $107.12 and a 200 day moving average price of $112.30.

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

Insider Buying and Selling at Akamai Technologies

In related news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last quarter. Insiders own 1.80% of the company’s stock.

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.