Adage Capital Partners GP L.L.C. Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Adage Capital Partners GP L.L.C. trimmed its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 65.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 40,400 shares of the technology infrastructure company’s stock after selling 77,400 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Akamai Technologies were worth $3,864,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. TCTC Holdings LLC grew its holdings in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after acquiring an additional 114 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after acquiring an additional 116 shares during the period. Delta Capital Management LLC raised its stake in shares of Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock valued at $267,000 after acquiring an additional 120 shares during the last quarter. Finally, Tandem Investment Advisors Inc. boosted its holdings in shares of Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after purchasing an additional 140 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $80.98 on Wednesday. The business has a 50-day simple moving average of $78.42 and a two-hundred day simple moving average of $90.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other news, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at $2,075,441.76. The trade was a 30.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton bought 37,670 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 31,394 shares of company stock worth $2,653,043. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Morgan Stanley reduced their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

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.