Forza Wealth Management LLC Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Forza Wealth Management LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 21.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,540 shares of the technology infrastructure company’s stock after selling 1,225 shares during the quarter. Forza Wealth Management LLC’s holdings in Akamai Technologies were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in Akamai Technologies by 0.3% during 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. Private Trust Co. NA increased its position in shares of Akamai Technologies by 17.9% during the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after buying an additional 108 shares during the period. Xponance Inc. increased its position in shares of Akamai Technologies by 0.5% during the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after buying an additional 110 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Akamai Technologies by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,517 shares of the technology infrastructure company’s stock valued at $1,760,000 after buying an additional 116 shares during the period. Finally, Shell Asset Management Co. increased its position in shares of Akamai Technologies by 1.2% during the third quarter. Shell Asset Management Co. now owns 9,800 shares of the technology infrastructure company’s stock valued at $1,044,000 after buying an additional 116 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 value of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,353 shares of company stock valued at $4,159,203. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AKAM shares. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Susquehanna initiated coverage on shares of Akamai Technologies in a research report on Friday, December 15th. They issued a “positive” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $119.50.

Akamai Technologies Stock Up 0.2 %

Shares of NASDAQ AKAM opened at $106.24 on Friday. The stock has a market capitalization of $16.10 billion, a P/E ratio of 30.10, a PEG ratio of 3.02 and a beta of 0.72. Akamai Technologies, Inc. has a one year low of $76.85 and a one year 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. The firm’s 50 day simple moving average is $112.94 and its two-hundred day simple moving average is $112.69.

Akamai Technologies (NASDAQ:AKAM) last released 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. The firm 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Akamai Technologies 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.