Akamai Technologies, Inc. (NASDAQ:AKAM) Holdings Cut by Summit Trail Advisors LLC

Summit Trail Advisors LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,308 shares of the technology infrastructure company’s stock after selling 505 shares during the quarter. Summit Trail Advisors LLC’s holdings in Akamai Technologies were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AKAM. Todd Asset Management LLC increased its position in Akamai Technologies by 13.9% in the fourth quarter. Todd Asset Management LLC now owns 276,728 shares of the technology infrastructure company’s stock worth $32,751,000 after buying an additional 33,751 shares during the period. Amalgamated Bank boosted its stake in Akamai Technologies by 15.4% during the 4th quarter. Amalgamated Bank now owns 46,874 shares of the technology infrastructure company’s stock valued at $5,548,000 after purchasing an additional 6,239 shares during the period. Los Angeles Capital Management LLC grew its position in Akamai Technologies by 23.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 912,409 shares of the technology infrastructure company’s stock worth $107,984,000 after purchasing an additional 176,173 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Akamai Technologies by 12.6% in the fourth quarter. Natixis Advisors L.P. now owns 192,825 shares of the technology infrastructure company’s stock valued at $22,820,000 after purchasing an additional 21,583 shares during the period. Finally, Summit Financial LLC bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $893,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AKAM. JPMorgan Chase & Co. increased their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Citigroup decreased their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Finally, Piper Sandler upped their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.60.

Akamai Technologies Trading Up 0.4 %

Shares of AKAM stock opened at $102.12 on Thursday. The company has a market cap of $15.47 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 12 month low of $78.48 and a 12 month high of $129.17. The business’s 50 day moving average is $105.85 and its two-hundred day moving average is $111.96.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.10. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. Equities analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Activity at Akamai Technologies

In related news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares in the company, valued at $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock worth $3,368,303 in the last ninety days. 2.00% of the stock is currently 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.