USS Investment Management Ltd Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

USS Investment Management Ltd lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,419 shares of the technology infrastructure company’s stock after selling 9,360 shares during the period. USS Investment Management Ltd’s holdings in Akamai Technologies were worth $2,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP purchased a new position in Akamai Technologies in the 4th quarter valued at $458,000. Two Sigma Advisers LP lifted its holdings in Akamai Technologies by 23.5% in the 4th quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock valued at $7,547,000 after purchasing an additional 15,000 shares in the last quarter. Texas Bank & Trust Co purchased a new position in Akamai Technologies in the 4th quarter valued at $316,000. Tidal Investments LLC lifted its holdings in Akamai Technologies by 8.0% in the 4th quarter. Tidal Investments LLC now owns 23,908 shares of the technology infrastructure company’s stock valued at $2,287,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Snowden Capital Advisors LLC purchased a new position in Akamai Technologies in the 4th quarter valued at $270,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Scotiabank decreased their price objective on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Susquehanna reduced their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Raymond James reduced their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, Oppenheimer began coverage on Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.26.

Akamai Technologies Stock Down 1.6%

Shares of AKAM opened at $75.84 on Friday. The firm has a market cap of $11.09 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The company’s 50-day moving average price is $77.90 and its 200 day moving average price is $87.77. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Akamai Technologies’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. The trade was a 37.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. This represents a 30.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,321 shares of company stock valued at $2,986,916 in the last three months. 2.00% of the stock is owned by corporate 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.