LGT Capital Partners LTD. cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 94.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,470 shares of the technology infrastructure company's stock after selling 242,130 shares during the quarter. LGT Capital Partners LTD.'s holdings in Akamai Technologies were worth $1,165,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AKAM. Beverly Hills Private Wealth LLC grew its stake in shares of Akamai Technologies by 4.7% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company's stock worth $228,000 after purchasing an additional 126 shares during the last quarter. Opes Wealth Management LLC grew its stake in shares of Akamai Technologies by 2.7% in the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock worth $392,000 after purchasing an additional 128 shares during the last quarter. Amalgamated Bank grew its stake in shares of Akamai Technologies by 0.5% in the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after purchasing an additional 139 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 purchasing an additional 155 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its stake in shares of Akamai Technologies by 3.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 5,364 shares of the technology infrastructure company's stock worth $434,000 after purchasing an additional 176 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on AKAM shares. Wall Street Zen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Scotiabank decreased their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Piper Sandler reiterated a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. KeyCorp started coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Finally, UBS Group raised 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $99.84.
Read Our Latest Stock Report on Akamai Technologies
Akamai Technologies Price Performance
NASDAQ AKAM opened at $74.38 on Friday. 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 market capitalization of $10.88 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.76. The company has a 50 day moving average price of $78.38 and a two-hundred day moving average price of $82.14. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The firm 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 company's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction 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 owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the executive vice president directly owned 43,575 shares in the company, valued at $3,326,079.75. This trade represents a 23.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,084 shares of company stock valued at $1,726,847 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
Akamai Technologies Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report).
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