Cwm LLC Lowers Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

CWM LLC trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 47.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,988 shares of the technology infrastructure company's stock after selling 49,675 shares during the quarter. CWM LLC's holdings in Akamai Technologies were worth $4,426,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after buying an additional 690,341 shares during the period. Norges Bank bought a new position in Akamai Technologies in the fourth quarter valued at $477,454,000. Mackenzie Financial Corp raised its holdings in shares of Akamai Technologies by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock valued at $232,198,000 after buying an additional 81,744 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock valued at $211,935,000 after buying an additional 58,013 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Akamai Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock worth $178,085,000 after buying an additional 163,472 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Up 1.0%

AKAM traded up $0.76 during trading on Friday, reaching $78.69. The company had a trading volume of 1,463,533 shares, compared to its average volume of 2,078,322. 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 business has a 50 day simple moving average of $78.09 and a 200-day simple moving average of $83.05. The stock has a market cap of $11.50 billion, a P/E ratio of 26.49, a PEG ratio of 2.49 and a beta of 0.77. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the 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 of the company's stock, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 10,809 shares of the company's stock, valued at approximately $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. Insiders have sold 22,084 shares of company stock worth $1,726,847 in the last ninety days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AKAM. Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Morgan Stanley decreased their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. UBS Group upped their price target on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Scotiabank lowered their price objective on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. Finally, KeyCorp initiated coverage on Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has an average rating of "Hold" and a consensus price target of $101.25.

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.