Amalgamated Bank Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Amalgamated Bank boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.4% in the 4th quarter, HoldingsChannel reports. The fund owned 46,874 shares of the technology infrastructure company’s stock after acquiring an additional 6,239 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $5,548,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after buying an additional 100 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Akamai Technologies by 17.9% in the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Akamai Technologies by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after buying an additional 108 shares during the period. Finally, Capital Analysts LLC increased its holdings in Akamai Technologies by 15.5% in the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on 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 approximately $735,196.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,753 shares of company stock worth $3,368,303. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AKAM. JPMorgan Chase & Co. lifted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Citigroup reduced their price objective on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. KeyCorp lifted their price target on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Finally, HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.60.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $101.08 on Tuesday. The company’s 50 day moving average price is $106.23 and its two-hundred day moving average price is $112.09. The firm has a market capitalization of $15.32 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.81 and a beta of 0.72. Akamai Technologies, Inc. has a fifty-two week low of $78.35 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last posted 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 firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast 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.