Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Northeast Investment Management

Northeast Investment Management lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 31.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,849 shares of the technology infrastructure company's stock after selling 16,426 shares during the period. Northeast Investment Management's holdings in Akamai Technologies were worth $2,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after buying an additional 155 shares during the period. Itau Unibanco Holding S.A. grew its position in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after buying an additional 234 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $49,000. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $57,000. Finally, LRI Investments LLC grew its position in shares of Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Performance

Akamai Technologies stock traded down $1.48 during trading hours on Friday, reaching $77.03. 1,859,071 shares of the stock were exchanged, compared to its average volume of 2,026,820. The stock has a market cap of $11.26 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.74 and a beta of 0.77. 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, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The firm's 50 day moving average is $77.26 and its 200 day moving average is $86.18.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Akamai Technologies's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AKAM. Piper Sandler reiterated a "neutral" rating and issued a $88.00 target price (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Citigroup lowered their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Finally, TD Cowen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $101.25.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction on 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 now owns 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the transaction, the chief operating officer now directly owns 10,809 shares of the company's stock, valued at approximately $918,981.18. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.