Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,174 shares of the technology infrastructure company's stock after selling 5,169 shares during the quarter. Pacer Advisors Inc.'s holdings in Akamai Technologies were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Carnegie Investment Counsel lifted its stake in shares of Akamai Technologies by 0.9% during the 1st quarter. Carnegie Investment Counsel now owns 74,150 shares of the technology infrastructure company's stock valued at $5,969,000 after buying an additional 660 shares in the last quarter. Opes Wealth Management LLC lifted its stake in shares of Akamai Technologies by 2.7% during the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock valued at $392,000 after buying an additional 128 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Akamai Technologies during the 1st quarter valued at $457,000. KLP Kapitalforvaltning AS lifted its stake in shares of Akamai Technologies by 2.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 50,906 shares of the technology infrastructure company's stock valued at $4,098,000 after buying an additional 1,000 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Akamai Technologies during the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AKAM shares. Wall Street Zen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. 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. Scotiabank decreased their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Morgan Stanley decreased their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, UBS Group boosted their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $99.84.

Insider Activity

In other news, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the transaction, the executive vice president directly owned 32,349 shares in the company, valued at approximately $2,514,811.26. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief operating officer owned 10,809 shares in the company, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,084 shares of company stock worth $1,726,847. Corporate insiders own 2.00% of the company's stock.

Akamai Technologies Trading Down 2.5%

NASDAQ:AKAM traded down $1.93 during mid-day trading on Friday, hitting $74.38. 2,534,091 shares of the stock traded hands, compared to its average volume of 1,278,583. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.41 and a beta of 0.76. The firm's 50 day moving average is $78.38 and its two-hundred day moving average is $82.19. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a quick ratio of 1.18, a current 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, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $1.64 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.