Moody Lynn & Lieberson LLC Invests $3 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Moody Lynn & Lieberson LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,352 shares of the technology infrastructure company’s stock, valued at approximately $3,000,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $1,184,000. Quadrature Capital Ltd acquired a new position in shares of Akamai Technologies in the third quarter worth about $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $1,879,000. Alpine Global Management LLC acquired a new position in shares of Akamai Technologies in the third quarter worth about $2,791,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Akamai Technologies in the third quarter worth about $1,048,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the 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 transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the 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 completion of the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 37,353 shares of company stock valued at $4,159,203 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on AKAM shares. Piper Sandler boosted their price target on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Susquehanna began coverage on Akamai Technologies in a research note on Friday, December 15th. They issued a “positive” rating and a $150.00 price target on the stock. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price objective 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 assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Akamai Technologies Stock Up 0.2 %

NASDAQ:AKAM opened at $106.24 on Friday. The firm has a market capitalization of $16.10 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The stock has a 50 day moving average of $112.94 and a 200-day moving average of $112.69. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million during 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%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current 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.