Assenagon Asset Management S.A. Sells 26,157 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Assenagon Asset Management S.A. lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,441 shares of the technology infrastructure company’s stock after selling 26,157 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Akamai Technologies worth $13,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AKAM. X Square Capital LLC grew its stake in Akamai Technologies by 25.0% in the 3rd quarter. X Square Capital LLC now owns 3,288 shares of the technology infrastructure company’s stock worth $332,000 after buying an additional 658 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Akamai Technologies in the third quarter worth $30,470,000. Private Advisor Group LLC increased its stake in Akamai Technologies by 8.0% in the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after acquiring an additional 477 shares during the last quarter. Eastern Bank purchased a new stake in Akamai Technologies during the third quarter valued at about $71,000. Finally, Signaturefd LLC lifted its stake in Akamai Technologies by 10.1% during the third quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $741,655 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Stock Down 0.8 %

Shares of NASDAQ AKAM opened at $101.97 on Monday. The firm has a fifty day simple moving average of $100.99 and a two-hundred day simple moving average of $97.23. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $15.53 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Monday, July 29th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Scotiabank boosted their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.47.

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.