Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lessened by CX Institutional

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its stake in Akamai Technologies by 54.8% in the first 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 in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after buying an additional 234 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $49,000. Wolverine Asset Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $57,000. Finally, LRI Investments LLC increased its holdings 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 valued at $60,000 after acquiring an additional 520 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AKAM shares. Oppenheimer assumed coverage on Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective on the stock. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Raymond James dropped their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.25.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $2.96 during midday trading on Monday, reaching $79.99. 3,894,626 shares of the company traded hands, compared to its average volume of 2,034,361. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.74 and a beta of 0.77. The stock has a 50-day moving average price of $77.26 and a 200 day moving average price of $86.13. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Akamai Technologies's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the transaction, the executive vice president now owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction on Thursday, May 8th. The shares were 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 in the company, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.