Meridian Wealth Management LLC Acquires 198 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Meridian Wealth Management LLC lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,166 shares of the technology infrastructure company’s stock after purchasing an additional 198 shares during the quarter. Meridian Wealth Management LLC’s holdings in Akamai Technologies were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sonoma Private Wealth LLC lifted its position in shares of Akamai Technologies by 9.3% in the fourth quarter. Sonoma Private Wealth LLC now owns 5,759 shares of the technology infrastructure company’s stock worth $551,000 after purchasing an additional 490 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies in the fourth quarter worth $49,000. Jones Financial Companies Lllp lifted its position in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Akamai Technologies in the fourth quarter worth $331,000. Finally, Clifford Swan Investment Counsel LLC raised its position in Akamai Technologies by 0.4% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 60,039 shares of the technology infrastructure company’s stock worth $5,743,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. Finally, Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have assigned 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 target price of $107.55.

Akamai Technologies Trading Up 0.8 %

AKAM stock opened at $82.82 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company’s 50-day simple moving average is $93.55 and its 200 day simple moving average is $96.87. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The company has a market capitalization of $12.45 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares in the company, valued at $1,146,097.11. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,213 shares of company stock worth $1,948,202 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.