Guggenheim Capital LLC Sells 20,725 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Guggenheim Capital LLC lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,272 shares of the technology infrastructure company's stock after selling 20,725 shares during the quarter. Guggenheim Capital LLC's holdings in Akamai Technologies were worth $696,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth $49,000. Bruce G. Allen Investments LLC raised its position in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after acquiring an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $57,000. TCTC Holdings LLC grew its position in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Finally, Atlas Capital Advisors Inc. increased its stake in shares of Akamai Technologies by 200.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock worth $68,000 after purchasing an additional 472 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded down $0.40 during trading hours on Wednesday, hitting $80.58. 1,065,895 shares of the company's stock traded hands, compared to its average volume of 1,935,550. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company's fifty day simple moving average is $78.50 and its two-hundred day simple moving average is $90.54. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

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

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Citigroup reduced their target price 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. Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a report on Friday, February 21st. Raymond James reduced their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Finally, Bank of America downgraded Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $125.00 to $100.00 in a report 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Insider Activity

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares of the company's stock, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 6,431 shares of Akamai Technologies stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 14,239 shares in the company, valued at approximately $1,146,097.11. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,394 shares of company stock worth $2,653,043 in the last three months. 2.00% of the stock is owned by 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.