North Star Asset Management Inc. Has $9.03 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

North Star Asset Management Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,195 shares of the technology infrastructure company’s stock after selling 1,828 shares during the quarter. North Star Asset Management Inc.’s holdings in Akamai Technologies were worth $9,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AKAM. First Trust Advisors LP boosted its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after acquiring an additional 690,341 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Akamai Technologies by 234.0% in the 1st quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company’s stock worth $47,943,000 after buying an additional 417,260 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Akamai Technologies in the 1st quarter worth about $21,626,000. GAMMA Investing LLC boosted its holdings in shares of Akamai Technologies by 5,951.4% in the 1st quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company’s stock worth $20,445,000 after buying an additional 249,781 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Akamai Technologies by 43.4% in the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after buying an additional 235,394 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the transaction, the executive vice president directly owned 32,349 shares in the company, valued at approximately $2,514,811.26. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer owned 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,084 shares of company stock worth $1,726,847. Insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Down 0.3%

AKAM stock opened at $79.49 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $78.39 and its 200 day moving average is $82.43. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. Sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an “underweight” rating and a $63.00 price target on the stock. Morgan Stanley lowered their price objective 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. UBS Group boosted their price objective on Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Wall Street Zen cut Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Scotiabank lowered their price objective on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.84.

About Akamai Technologies

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.