Yousif Capital Management LLC Sells 1,370 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Yousif Capital Management LLC cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,548 shares of the technology infrastructure company’s stock after selling 1,370 shares during the period. Yousif Capital Management LLC’s holdings in Akamai Technologies were worth $2,432,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AKAM. Handelsbanken Fonder AB boosted its holdings in Akamai Technologies by 3.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 48,899 shares of the technology infrastructure company’s stock valued at $5,210,000 after purchasing an additional 1,856 shares during the period. Ballentine Partners LLC bought a new stake in Akamai Technologies in the 3rd quarter valued at $229,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Akamai Technologies by 707.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,961 shares of the technology infrastructure company’s stock valued at $4,577,000 after purchasing an additional 37,639 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Akamai Technologies by 92.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 335,766 shares of the technology infrastructure company’s stock valued at $35,773,000 after buying an additional 161,113 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Akamai Technologies by 0.5% in the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after buying an additional 110 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,353 shares of company stock valued at $3,688,883. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AKAM shares. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Piper Sandler increased their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Akamai Technologies Stock Up 0.1 %

Shares of NASDAQ:AKAM opened at $101.78 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. The company’s 50-day moving average price is $106.82 and its two-hundred day moving average price is $112.28. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market cap of $15.42 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.87 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

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.