IFM Investors Pty Ltd Sells 673 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

IFM Investors Pty Ltd lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,889 shares of the technology infrastructure company’s stock after selling 673 shares during the period. IFM Investors Pty Ltd’s holdings in Akamai Technologies were worth $2,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AKAM. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies in the 1st quarter valued at about $31,000. Versant Capital Management Inc lifted its stake in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new stake in Akamai Technologies in the 2nd quarter valued at about $28,000. Family Firm Inc. acquired a new stake in Akamai Technologies in the 2nd quarter valued at about $35,000. Finally, Covestor Ltd lifted its stake in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 310 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AKAM shares. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a research note on Wednesday, July 24th. Finally, DA Davidson restated a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Stock Down 0.8 %

Shares of AKAM opened at $101.97 on Monday. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The firm’s 50 day moving average is $100.99 and its 200-day moving average is $97.23. The stock has a market capitalization of $15.53 billion, a PE ratio of 25.37, a P/E/G ratio of 3.31 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 over the last three months. 1.80% of the stock is owned by insiders.

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.