Liberty Wealth Management LLC lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 61.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 871 shares of the technology infrastructure company’s stock after purchasing an additional 332 shares during the period. Liberty Wealth Management LLC’s holdings in Akamai Technologies were worth $62,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AKAM. Truvestments Capital LLC bought a new position in Akamai Technologies in the 1st quarter worth approximately $29,000. Focused Wealth Management Inc bought a new position in Akamai Technologies in the 4th quarter valued at $29,000. Private Capital Group LLC boosted its holdings in Akamai Technologies by 148.5% in the 4th quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 395 shares during the period. Fort L.P. bought a new position in Akamai Technologies in the 4th quarter valued at $82,000. Finally, Captrust Financial Advisors boosted its holdings in Akamai Technologies by 394.2% in the 3rd quarter. Captrust Financial Advisors now owns 1,448 shares of the technology infrastructure company’s stock valued at $106,000 after purchasing an additional 1,155 shares during the period. Institutional investors own 88.10% of the company’s stock.
Several brokerages have commented on AKAM. Zacks Investment Research raised shares of Akamai Technologies from a “sell” rating to a “hold” rating in a report on Monday, January 28th. Craig Hallum reaffirmed a “buy” rating and set a $92.00 price objective (up from $82.00) on shares of Akamai Technologies in a report on Wednesday, May 1st. KeyCorp lifted their price objective on shares of Akamai Technologies from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. B. Riley reaffirmed a “buy” rating and set a $102.00 price objective (down from $105.00) on shares of Akamai Technologies in a report on Wednesday, February 13th. Finally, BidaskClub raised shares of Akamai Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.47.
Shares of AKAM traded up $0.48 during trading hours on Friday, reaching $76.63. 897,992 shares of the company traded hands, compared to its average volume of 1,352,703. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.62 and a beta of 0.60. The company has a current ratio of 3.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a 12 month low of $57.18 and a 12 month high of $86.19.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business had revenue of $706.51 million for the quarter, compared to analyst estimates of $698.33 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Akamai Technologies’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that Akamai Technologies, Inc. will post 3.21 EPS for the current fiscal year.
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Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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