Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 65.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,400 shares of the technology infrastructure company's stock after selling 77,400 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Akamai Technologies were worth $3,864,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sompo Asset Management Co. Ltd. lifted its holdings in Akamai Technologies by 17.5% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 23,387 shares of the technology infrastructure company's stock worth $2,237,000 after buying an additional 3,487 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Akamai Technologies by 7.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 21,157 shares of the technology infrastructure company's stock worth $2,024,000 after acquiring an additional 1,530 shares during the last quarter. Hsbc Holdings PLC raised its position 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 purchasing an additional 235,394 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Akamai Technologies by 317.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,748 shares of the technology infrastructure company's stock worth $1,028,000 after purchasing an additional 8,171 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in Akamai Technologies by 6.7% during the 4th quarter. MML Investors Services LLC now owns 22,841 shares of the technology infrastructure company's stock valued at $2,185,000 after purchasing an additional 1,435 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. Raymond James decreased their price target on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Piper Sandler reduced their price objective on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Finally, Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares in the company, valued at approximately $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,394 shares of company stock worth $2,653,043. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Stock Up 1.4 %

Shares of NASDAQ:AKAM traded up $1.18 on Monday, reaching $83.72. The company had a trading volume of 225,806 shares, compared to its average volume of 1,929,034. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $12.23 billion, a PE ratio of 25.69, a PEG ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The firm's 50 day simple moving average is $78.66 and its 200-day simple moving average is $90.05.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Akamai Technologies 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.