First Horizon Advisors Inc. Purchases 46,913 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,127 shares of the technology infrastructure company's stock after acquiring an additional 46,913 shares during the quarter. First Horizon Advisors Inc. owned approximately 0.13% of Akamai Technologies worth $15,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Akamai Technologies in the 4th quarter valued at $617,000. Charles Schwab Investment Management Inc. increased its position in shares of Akamai Technologies by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after purchasing an additional 29,888 shares during the last quarter. Atria Investments Inc increased its position in shares of Akamai Technologies by 5.6% during the 4th quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company's stock valued at $526,000 after purchasing an additional 293 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Akamai Technologies by 2.9% during the 1st quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company's stock worth $588,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AKAM shares. Wall Street Zen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Oppenheimer began coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price for the company. UBS Group raised their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Scotiabank reduced their price objective on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $101.25.

Insider Buying and Selling 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 value of $333,873.54. Following the transaction, the chief operating officer directly owned 10,809 shares in the company, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the executive vice president directly owned 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% 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 company insiders.

Akamai Technologies Price Performance

Shares of AKAM stock traded down $0.26 during trading hours on Friday, reaching $79.20. The stock had a trading volume of 1,159,299 shares, compared to its average volume of 2,084,712. The stock's fifty day simple moving average is $78.71 and its 200 day simple moving average is $84.21. The firm has a market capitalization of $11.58 billion, a PE ratio of 26.67, a PEG ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its earnings results 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 business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, equities research analysts predict 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.