GHP Investment Advisors Inc. Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

GHP Investment Advisors Inc. reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,751 shares of the technology infrastructure company's stock after selling 3,484 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Akamai Technologies were worth $624,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AKAM. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $49,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $617,000. Charles Schwab Investment Management Inc. raised 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 worth $88,213,000 after purchasing an additional 29,888 shares during the last quarter. Atria Investments Inc raised 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 worth $526,000 after purchasing an additional 293 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position 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 last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $79.53 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $11.63 billion, a P/E ratio of 26.78, a PEG ratio of 2.53 and a beta of 0.77. The company has a 50 day moving average price of $78.13 and a 200 day moving average price of $85.29. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week 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 for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion during 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 firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.64 EPS. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling

In other Akamai Technologies 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 $3,326,079.75. This trade represents a 23.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Adam Karon sold 3,927 shares of the firm'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 completion of the transaction, the chief operating officer now directly owns 10,809 shares of the company's stock, valued at $918,981.18. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AKAM. KeyCorp began coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective for the company. Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective for the company. Piper Sandler reiterated 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. Scotiabank cut 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. Finally, UBS Group increased their price objective 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $101.25.

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.

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