Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 45.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,956 shares of the technology infrastructure company's stock after selling 4,071 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Akamai Technologies were worth $399,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 worth $35,000 after purchasing an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of 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 worth $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth about $49,000. LRI Investments LLC lifted its position in shares of Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after purchasing an additional 520 shares in the last quarter. Finally, TCTC Holdings LLC lifted its position in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on AKAM shares. Piper Sandler reissued a "neutral" rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Scotiabank reduced 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 report on Friday, May 9th. Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Akamai Technologies presently has an average rating of "Hold" and a consensus price target of $101.25.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the business's stock in a transaction 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 sale, the chief operating officer directly owned 10,809 shares in the company, valued at approximately $918,981.18. The trade was a 26.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was 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 in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $79.46 on Thursday. The firm's fifty day moving average price is $78.72 and its 200 day moving average price is $84.60. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.64 EPS. Akamai Technologies's quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS 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.

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