Forza Wealth Management LLC Sells 520 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Forza Wealth Management LLC lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,020 shares of the technology infrastructure company’s stock after selling 520 shares during the period. Forza Wealth Management LLC’s holdings in Akamai Technologies were worth $437,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Duality Advisers LP purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $1,184,000. RWA Wealth Partners LLC purchased a new position in shares of Akamai Technologies in the 4th quarter worth approximately $4,441,000. Quadrature Capital Ltd bought a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Akamai Technologies during the 4th quarter valued at $1,879,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Citigroup dropped their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.60.

Akamai Technologies Stock Up 0.1 %

Shares of AKAM stock traded up $0.10 on Monday, hitting $101.78. The stock had a trading volume of 705,175 shares, compared to its average volume of 1,602,727. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17. The business has a 50 day moving average price of $106.82 and a 200 day moving average price of $112.28. The company has a market cap of $15.42 billion, a PE ratio of 28.83, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly 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 business had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Research analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share 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.