Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 529,211 shares of the technology infrastructure company's stock after selling 73,711 shares during the period. Envestnet Asset Management Inc. owned 0.36% of Akamai Technologies worth $42,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AKAM. MassMutual Private Wealth & Trust FSB grew its holdings 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 during the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of 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 in the last quarter. LRI Investments LLC raised its holdings in 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 purchasing an additional 520 shares during the period. TCTC Holdings LLC boosted its position in 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 purchasing an additional 102 shares in the last quarter. Finally, Atlas Capital Advisors Inc. increased its position in shares of Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock valued at $68,000 after buying an additional 472 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and issued a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Oppenheimer started coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price for the company. Scotiabank decreased their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Morgan Stanley cut their price objective on 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. Finally, KeyCorp started coverage on Akamai Technologies in a report on Friday, June 6th. They set an "underweight" rating and a $63.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.25.

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 3,927 shares of the company's stock in a transaction that occurred 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 directly owned 10,809 shares of the company's stock, valued at $918,981.18. This represents a 26.65% decrease in their position. The sale 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 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 transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. This represents a 23.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Up 0.3%

Shares of NASDAQ:AKAM traded up $0.24 during mid-day trading on Wednesday, reaching $77.04. 994,094 shares of the company were exchanged, compared to its average volume of 2,072,300. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The firm's 50-day simple moving average is $78.31 and its 200 day simple moving average is $83.42.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company's revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.