BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,974 shares of the technology infrastructure company's stock after selling 55,799 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.14% of Akamai Technologies worth $20,754,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. lifted its position in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the fourth quarter worth about $49,000. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $57,000. LRI Investments LLC boosted its stake in shares of Akamai Technologies by 500.0% in the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after buying an additional 520 shares during the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after acquiring an additional 102 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the business's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,321 shares of company stock worth $2,986,916. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AKAM. JPMorgan Chase & Co. decreased their target price on 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 reduced their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.26.

Akamai Technologies Trading Up 2.5%

Shares of NASDAQ AKAM traded up $1.90 during midday trading on Tuesday, reaching $77.74. The stock had a trading volume of 557,739 shares, compared to its average volume of 2,004,915. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company's 50 day moving average price is $77.77 and its 200 day moving average price is $87.44. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.64 EPS. Akamai Technologies's revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.