Geneos Wealth Management Inc. Has $791,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Geneos Wealth Management Inc. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,273 shares of the technology infrastructure company’s stock after purchasing an additional 1,099 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Akamai Technologies were worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AKAM. Planned Solutions Inc. acquired a new stake in Akamai Technologies during the 4th quarter valued at approximately $37,000. Headinvest LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC grew its position in shares of Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Friday, June 14th. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00. Following the sale, the chief technology officer now directly owns 24,729 shares in the company, valued at approximately $2,184,559.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now directly owns 24,729 shares in the company, valued at approximately $2,184,559.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the sale, the director now owns 14,519 shares in the company, valued at $1,358,107.26. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock worth $826,460 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent analyst reports. Susquehanna reduced their price objective on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 10th. KeyCorp reduced their price objective on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Bank of America reduced their price objective on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. TD Cowen reduced their price target on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Craig Hallum reduced their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.76.

Akamai Technologies Stock Up 0.3 %

NASDAQ:AKAM traded up $0.32 during trading hours on Thursday, hitting $94.10. 1,425,870 shares of the company traded hands, compared to its average volume of 1,706,583. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $92.49 and its 200-day simple moving average is $105.49. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a market cap of $14.33 billion, a PE ratio of 23.63, a PEG ratio of 4.45 and a beta of 0.67.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Equities analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its Board of Directors has initiated a share buyback plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.