Meridian Wealth Management LLC Has $494,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Meridian Wealth Management LLC grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,166 shares of the technology infrastructure company’s stock after purchasing an additional 198 shares during the period. Meridian Wealth Management LLC’s holdings in Akamai Technologies were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AKAM. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares in the last quarter. National Pension Service boosted its stake in shares of Akamai Technologies by 0.8% in the 3rd quarter. National Pension Service now owns 45,869 shares of the technology infrastructure company’s stock valued at $4,630,000 after purchasing an additional 350 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Akamai Technologies by 4.3% in the 3rd quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock valued at $822,000 after purchasing an additional 335 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at approximately $102,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,213 shares of company stock valued at $1,948,202 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $82.82 on Thursday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $93.55 and a 200-day moving average of $96.87.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AKAM. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Raymond James dropped their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Company 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.