Desjardins Global Asset Management Inc. Has $238,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Desjardins Global Asset Management Inc. boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,012 shares of the technology infrastructure company’s stock after purchasing an additional 154 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Akamai Technologies were worth $238,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ancora Advisors LLC grew its position in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. Planned Solutions Inc. acquired a new stake in Akamai Technologies in the 4th quarter valued at $37,000. Headinvest LLC acquired a new stake in Akamai Technologies in the 3rd quarter valued at $40,000. Belpointe Asset Management LLC grew its position in Akamai Technologies by 50.1% in the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.4 %

NASDAQ AKAM opened at $100.73 on Friday. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 2.86 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 business’s fifty day moving average is $109.12 and its 200-day moving average is $112.45.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. During the same period in the previous year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on AKAM. Piper Sandler lifted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. KeyCorp raised their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s 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 sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s 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 sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were 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 in the company, valued at $735,196.66. 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. Company insiders own 1.80% of the company’s stock.

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.