Blair William & Co. IL Sells 4,871 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Key Points

• Blair William & Co. IL reduced its stake in Akamai Technologies by 9.6%, selling 4,871 shares and holding a total of 45,626 shares valued at approximately $3.67 million.
• Akamai stock saw a recent trading price of $74.76, with a one-year range between $67.51 and $106.80, and analysts maintaining a consensus rating of "Hold" with an average price target of $99.58.
• Insider activity includes significant sales from executives, with EVP Kim Salem-Jackson selling 13,157 shares for over $1 million, and EVP Paul C. Joseph offloading 5,000 shares valued at nearly $389,000.

Blair William & Co. IL lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,626 shares of the technology infrastructure company's stock after selling 4,871 shares during the quarter. Blair William & Co. IL's holdings in Akamai Technologies were worth $3,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AKAM. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Akamai Technologies in the first quarter valued at approximately $330,000. Tredje AP fonden raised its position in shares of Akamai Technologies by 114.5% in the 1st quarter. Tredje AP fonden now owns 364,177 shares of the technology infrastructure company's stock valued at $29,316,000 after acquiring an additional 194,400 shares during the period. Banque Cantonale Vaudoise bought a new position in Akamai Technologies during the 1st quarter worth approximately $3,476,000. Federated Hermes Inc. grew its holdings in Akamai Technologies by 346.9% during the first quarter. Federated Hermes Inc. now owns 1,953 shares of the technology infrastructure company's stock valued at $157,000 after purchasing an additional 1,516 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Akamai Technologies by 2.3% in the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after purchasing an additional 56,411 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the transaction, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. This represents a 23.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total value of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at $2,514,811.26. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AKAM shares. Wall Street Zen lowered Akamai Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler reiterated a "neutral" rating and issued a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. KeyCorp assumed coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company. UBS Group boosted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price for the company. in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $99.58.

Akamai Technologies Trading Up 0.4%

Shares of Akamai Technologies stock opened at $74.76 on Friday. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.36 and a beta of 0.76. The business has a fifty day simple moving average of $78.22 and a two-hundred day simple moving average of $81.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 EPS. Research analysts forecast 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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