Watershed Asset Management L.L.C. Acquires New Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Watershed Asset Management L.L.C. acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,487 shares of the technology infrastructure company’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AKAM. Planned Solutions Inc. purchased a new stake in Akamai Technologies in the 4th quarter valued at about $37,000. Headinvest LLC purchased a new stake in Akamai Technologies during the third quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies during the fourth quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies during the fourth quarter worth about $44,000. Finally, Lindbrook Capital LLC increased its stake in 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 purchasing an additional 125 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 0.9 %

AKAM traded up $0.88 on Tuesday, reaching $101.76. The company’s stock had a trading volume of 970,786 shares, compared to its average volume of 1,637,973. The stock has a 50 day moving average of $107.57 and a two-hundred day moving average of $112.44. 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 company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 2.87 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.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AKAM. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. boosted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. KeyCorp boosted their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set 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 issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.27.

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.