Simplicity Wealth LLC Purchases 646 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Simplicity Wealth LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,292 shares of the technology infrastructure company’s stock after purchasing an additional 646 shares during the period. Simplicity Wealth LLC’s holdings in Akamai Technologies were worth $1,080,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AKAM. National Pension Service raised its position in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the period. Geode Capital Management LLC increased its holdings in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Nordea Investment Management AB increased its holdings in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Akamai Technologies in the 3rd quarter valued at $13,313,000. 94.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,896 shares of company stock worth $2,872,496 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AKAM shares. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Citigroup reduced their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada dropped their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $87.52 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The firm has a 50-day moving average of $93.06 and a two-hundred day moving average of $96.60. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $113.36.

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

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.