Venturi Wealth Management LLC Has $257,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Venturi Wealth Management LLC lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 423.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,691 shares of the technology infrastructure company’s stock after purchasing an additional 2,177 shares during the period. Venturi Wealth Management LLC’s holdings in Akamai Technologies were worth $257,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $71,000. Principal Securities Inc. increased its holdings in shares of Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares during the last quarter. Finally, Covestor Ltd raised its stake in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $98.05 on Friday. The firm’s 50 day simple moving average is $96.60 and its 200 day simple moving average is $97.96. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 3.55 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Citigroup decreased their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $117.95.

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.