Parsec Financial Management Inc. Has $2.29 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Parsec Financial Management Inc. lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,585 shares of the technology infrastructure company’s stock after selling 390 shares during the quarter. Parsec Financial Management Inc.’s holdings in Akamai Technologies were worth $2,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AKAM. Brinker Capital Investments LLC increased its holdings in shares of Akamai Technologies by 721.7% during the fourth quarter. Brinker Capital Investments LLC now owns 24,076 shares of the technology infrastructure company’s stock worth $2,818,000 after purchasing an additional 21,146 shares during the period. Westpac Banking Corp increased its holdings in shares of Akamai Technologies by 1.0% during the fourth quarter. Westpac Banking Corp now owns 13,401 shares of the technology infrastructure company’s stock worth $1,568,000 after purchasing an additional 136 shares during the period. qPULA Trading Management LP increased its holdings in shares of Akamai Technologies by 10.7% during the fourth quarter. qPULA Trading Management LP now owns 3,200 shares of the technology infrastructure company’s stock worth $375,000 after purchasing an additional 309 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of Akamai Technologies by 25.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 6,005 shares of the technology infrastructure company’s stock worth $703,000 after purchasing an additional 1,203 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Akamai Technologies by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 15,461 shares of the technology infrastructure company’s stock worth $1,810,000 after purchasing an additional 855 shares during the period. Institutional investors own 89.58% of the company’s stock.

AKAM stock traded down $3.55 during midday trading on Friday, hitting $112.28. The stock had a trading volume of 1,559,405 shares, compared to its average volume of 1,156,106. The firm has a market cap of $18.07 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.59. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.44. Akamai Technologies, Inc. has a 1-year low of $96.86 and a 1-year high of $123.25. The business has a fifty day moving average price of $114.79 and a two-hundred day moving average price of $112.60.

Akamai Technologies (NASDAQ:AKAMGet Rating) last released its earnings results on Tuesday, February 15th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.12. The business had revenue of $905.36 million for the quarter, compared to analyst estimates of $898.83 million. Akamai Technologies had a net margin of 18.83% and a return on equity of 17.37%. During the same quarter in the previous year, the business earned $1.06 earnings per share. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.79 EPS for the current year.

Several research analysts have recently commented on AKAM shares. DA Davidson lowered their target price on shares of Akamai Technologies from $143.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, March 23rd. Tigress Financial lifted their price objective on shares of Akamai Technologies from $157.00 to $168.00 in a research note on Wednesday, January 26th. Piper Sandler lifted their price objective on shares of Akamai Technologies from $121.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 19th. William Blair restated an “outperform” rating on shares of Akamai Technologies in a research report on Tuesday, February 15th. Finally, Citigroup cut their target price on shares of Akamai Technologies from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $132.45.

In other Akamai Technologies news, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of Akamai Technologies stock in a transaction on Friday, February 25th. The shares were sold at an average price of $105.12, for a total value of $210,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 3,805 shares of Akamai Technologies stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $120.00, for a total transaction of $456,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,325 shares of company stock worth $4,843,886. 1.70% of the stock is owned by company insiders.

Akamai Technologies Profile (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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