Carret Asset Management LLC Sells 200 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Carret Asset Management LLC trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,340 shares of the technology infrastructure company’s stock after selling 200 shares during the quarter. Carret Asset Management LLC’s holdings in Akamai Technologies were worth $1,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Planned Solutions Inc. bought a new stake in Akamai Technologies during the 4th quarter worth about $37,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies during the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC bought a new stake in Akamai Technologies during the 4th quarter worth about $44,000. Headinvest LLC bought a new stake in Akamai Technologies during the 3rd quarter worth about $40,000. Finally, Lindbrook Capital LLC raised its holdings in 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 purchasing an additional 125 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of Akamai Technologies 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 transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of Akamai Technologies 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 transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock valued at $3,688,883 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AKAM shares. Piper Sandler boosted their price objective on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. KeyCorp boosted their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and cut their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.27.

Akamai Technologies Price Performance

Shares of AKAM traded up $0.43 during trading hours on Wednesday, hitting $102.19. 996,771 shares of the company were exchanged, compared to its average volume of 1,629,855. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 2.85 and a beta of 0.72. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $107.32 and its 200 day moving average is $112.37.

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

About Akamai Technologies

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.