Envestnet Asset Management Inc. Has $42.60 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Envestnet Asset Management Inc. lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 529,211 shares of the technology infrastructure company's stock after selling 73,711 shares during the period. Envestnet Asset Management Inc. owned approximately 0.36% of Akamai Technologies worth $42,601,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Akamai Technologies by 99.6% during the fourth 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 in the last quarter. LRI Investments LLC grew its position in shares of 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 in the last quarter. TCTC Holdings LLC grew its position in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after buying an additional 102 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its position in shares of Akamai Technologies by 200.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock worth $68,000 after buying an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AKAM shares. Scotiabank decreased their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group boosted their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. KeyCorp initiated coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target for the company. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $101.25.

Insider Activity

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the business's 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 owned 10,809 shares in the company, valued at approximately $918,981.18. The trade was a 26.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Trading Down 2.6%

NASDAQ AKAM traded down $2.06 on Friday, hitting $77.38. 1,254,258 shares of the company were exchanged, compared to its average volume of 2,079,921. The company's 50 day moving average price is $78.55 and its 200-day moving average price is $83.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $11.31 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80.

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

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.