CX Institutional Sells 8,539 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

CX Institutional lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 78.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,316 shares of the technology infrastructure company's stock after selling 8,539 shares during the period. CX Institutional's holdings in Akamai Technologies were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. MassMutual Private Wealth & Trust FSB grew its position 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 valued at $35,000 after acquiring an additional 155 shares during the period. Itau Unibanco Holding S.A. lifted its stake 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 purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Akamai Technologies during the fourth quarter worth about $49,000. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the fourth quarter worth approximately $57,000. Finally, LRI Investments LLC increased its position in 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 buying an additional 520 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded up $0.02 during midday trading on Thursday, hitting $78.70. The stock had a trading volume of 2,995,857 shares, compared to its average volume of 2,048,956. The company's 50-day moving average price is $77.59 and its 200-day moving average price is $85.93. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. 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 company has a market capitalization of $11.51 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results 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 return on equity of 14.09% and a net margin of 11.26%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.64 EPS. The company's revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on AKAM. JPMorgan Chase & Co. reduced their target price on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st. Raymond James Financial cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Royal Bank Of Canada decreased their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Finally, Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $101.25.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares of the company's stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction that occurred 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 now directly owns 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. Company insiders own 2.00% of the company's stock.

About Akamai Technologies

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.