Champlain Investment Partners LLC Trims Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Champlain Investment Partners LLC lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 21.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402,968 shares of the technology infrastructure company's stock after selling 377,030 shares during the quarter. Champlain Investment Partners LLC owned 0.93% of Akamai Technologies worth $134,194,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Akamai Technologies during the fourth quarter worth $477,454,000. Nordea Investment Management AB increased its holdings in shares of Akamai Technologies by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after buying an additional 29,888 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Akamai Technologies by 8.9% during the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock valued at $87,188,000 after buying an additional 74,373 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Akamai Technologies by 6.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company's stock worth $57,670,000 after acquiring an additional 37,673 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AKAM shares. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target on the stock. Citigroup dropped their price target on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Piper Sandler dropped their target price on Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Scotiabank decreased their price target on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Akamai Technologies Stock Up 2.4 %

Akamai Technologies stock traded up $1.76 during mid-day trading on Tuesday, reaching $73.68. 363,905 shares of the company were exchanged, compared to its average volume of 1,916,825. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The business has a fifty day moving average of $80.98 and a 200 day moving average of $91.55. The firm has a market cap of $10.77 billion, a P/E ratio of 22.65, a PEG ratio of 2.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (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 net margin of 12.65% and a return on equity of 14.35%. Research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the business'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 owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,394 shares of company stock valued at $2,653,043 over the last 90 days. Insiders own 1.80% of the company's stock.

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.