Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC decreased its stake in Akamai Technologies by 23.9%, selling 24,670 shares in the first quarter, leaving them with approximately 78,716 shares valued at $6.3 million.
• Akamai Technologies recently reported an EPS of $1.70 for the quarter, exceeding estimates and showing a 2.9% increase in revenue year-over-year.
• A majority of analysts maintain a **"hold" rating** for Akamai Technologies, with a consensus target price of **$99.84**, highlighting mixed outlooks on the company's performance.

New Age Alpha Advisors LLC lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,716 shares of the technology infrastructure company's stock after selling 24,670 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.05% of Akamai Technologies worth $6,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKAM. MassMutual Private Wealth & Trust FSB increased its holdings in Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after acquiring an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after acquiring an additional 234 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Akamai Technologies in the 1st quarter worth $49,000. LRI Investments LLC increased its holdings in Akamai Technologies by 500.0% in the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in Akamai Technologies in the 1st quarter worth $65,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AKAM. Raymond James Financial dropped their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a report on Friday. UBS Group upped their target price on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Scotiabank dropped their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a report on Friday. Piper Sandler dropped their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a report on Friday. Finally, Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of "Hold" and an average price target of $97.42.

Insider Buying and Selling

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares in the company, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 5.7%

NASDAQ:AKAM traded down $4.23 during mid-day trading on Friday, hitting $70.53. The stock had a trading volume of 5,400,278 shares, compared to its average volume of 1,658,531. The stock has a 50-day simple moving average of $78.12 and a two-hundred day simple moving average of $81.58. The company has a market capitalization of $10.31 billion, a PE ratio of 25.01, a PEG ratio of 2.36 and a beta of 0.76. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.05%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm's revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.