Focus Partners Wealth Sells 323,085 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Focus Partners Wealth lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 95.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,409 shares of the technology infrastructure company's stock after selling 323,085 shares during the quarter. Focus Partners Wealth's holdings in Akamai Technologies were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ethic Inc. lifted its position in Akamai Technologies by 79.1% in the fourth quarter. Ethic Inc. now owns 33,181 shares of the technology infrastructure company's stock worth $3,174,000 after purchasing an additional 14,651 shares during the period. FORA Capital LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $2,891,000. Captrust Financial Advisors lifted its holdings in shares of Akamai Technologies by 17.0% during the 4th quarter. Captrust Financial Advisors now owns 26,038 shares of the technology infrastructure company's stock worth $2,491,000 after acquiring an additional 3,792 shares during the period. Baird Financial Group Inc. boosted its position in shares of Akamai Technologies by 1.8% during the 4th quarter. Baird Financial Group Inc. now owns 58,252 shares of the technology infrastructure company's stock valued at $5,572,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its position in shares of Akamai Technologies by 155.7% during the 4th quarter. Bayesian Capital Management LP now owns 28,258 shares of the technology infrastructure company's stock valued at $2,703,000 after acquiring an additional 17,207 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer initiated coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target for the company. UBS Group increased their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. TD Cowen downgraded Akamai Technologies from a "buy" rating to a "hold" rating and cut their target price for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. StockNews.com raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Piper Sandler reiterated a "neutral" rating and set a $88.00 price objective (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies has an average rating of "Moderate Buy" and an average price target of $103.26.

Insider Buying and Selling

In other news, COO Adam Karon sold 3,927 shares of the firm's stock in a transaction dated 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 now owns 10,809 shares of the company's stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares of the company's stock, valued at approximately $2,075,441.76. This trade represents a 30.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,321 shares of company stock worth $2,986,916 over the last three months. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

Shares of AKAM traded down $1.07 during mid-day trading on Wednesday, hitting $76.42. 1,704,122 shares of the company traded hands, compared to its average volume of 1,993,906. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.74 and a beta of 0.82. The business has a 50-day moving average of $78.23 and a 200 day moving average of $88.18. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. As a group, equities analysts expect 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.