Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,543 shares of the technology infrastructure company's stock after selling 4,164 shares during the quarter. Leeward Investments LLC MA owned about 0.08% of Akamai Technologies worth $9,543,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings 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 purchasing an additional 690,341 shares during the period. Norges Bank purchased a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $477,454,000. Mackenzie Financial Corp lifted its holdings in Akamai Technologies by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock worth $232,198,000 after buying an additional 81,744 shares during the period. Earnest Partners LLC lifted its holdings in Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock worth $211,935,000 after buying an additional 58,013 shares during the period. Finally, Northern Trust Corp lifted its holdings in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock worth $178,085,000 after buying an additional 163,472 shares during the period. 94.28% of the stock is owned by institutional investors.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the transaction, the executive vice president directly owned 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the sale, the chief operating officer owned 10,809 shares in the company, valued at $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AKAM shares. Wall Street Zen lowered Akamai Technologies from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Piper Sandler reiterated a "neutral" rating and set a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Scotiabank decreased their price objective on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Oppenheimer started coverage on Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective for the company. Finally, KeyCorp began coverage on Akamai Technologies in a report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $101.25.

Akamai Technologies Stock Performance

AKAM traded down $0.42 on Monday, reaching $79.06. The company had a trading volume of 1,649,110 shares, compared to its average volume of 2,082,969. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The stock has a market capitalization of $11.56 billion, a PE ratio of 26.62, a P/E/G ratio of 2.51 and a beta of 0.77. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $78.71 and a 200-day moving average price of $84.21.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.