Cerity Partners LLC Sells 40,974 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Cerity Partners LLC cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 68.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,205 shares of the technology infrastructure company's stock after selling 40,974 shares during the quarter. Cerity Partners LLC's holdings in Akamai Technologies were worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of recent research reports. Piper Sandler cut their price target on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada cut their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Craig Hallum cut Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded up $1.75 during midday trading on Tuesday, reaching $73.67. 1,583,264 shares of the company were exchanged, compared to its average volume of 1,924,454. The stock has a market cap of $10.76 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The business's fifty day moving average is $80.46 and its two-hundred day moving average is $91.43. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations 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 predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of the business'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 value of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,394 shares of company stock worth $2,653,043 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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.