Alyeska Investment Group L.P. Sells 363,318 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Alyeska Investment Group L.P. decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 69.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 159,194 shares of the technology infrastructure company's stock after selling 363,318 shares during the quarter. Alyeska Investment Group L.P. owned about 0.11% of Akamai Technologies worth $15,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in AKAM. Norges Bank purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $477,454,000. First Trust Advisors LP raised its stake in shares of Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after acquiring an additional 690,341 shares during the period. National Pension Service lifted its position in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Hsbc Holdings PLC lifted 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 period. Finally, Northern Trust Corp raised its holdings in shares of Akamai Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after acquiring an additional 163,472 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of the company's stock in a transaction on Thursday, February 27th. The shares were purchased 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 in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 6,431 shares of Akamai Technologies stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at $1,146,097.11. This trade represents a 31.11 % decrease in their position. 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 over the last quarter. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Down 10.5 %

Shares of Akamai Technologies stock traded down $8.93 on Friday, reaching $76.51. 5,831,128 shares of the company were exchanged, compared to its average volume of 1,925,699. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. 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 stock has a fifty day moving average price of $78.85 and a 200-day moving average price of $89.35.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday. Raymond James lowered their price objective on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Citigroup reduced their target price on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. One research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $104.05.

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.