Kercheville Advisors LLC Reduces Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kercheville Advisors LLC cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,850 shares of the technology infrastructure company's stock after selling 3,500 shares during the quarter. Kercheville Advisors LLC's holdings in Akamai Technologies were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Akamai Technologies by 54.8% in the 1st 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 during the period. Itau Unibanco Holding S.A. lifted its stake in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after acquiring an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies in the fourth quarter worth $49,000. Wolverine Asset Management LLC bought a new stake in Akamai Technologies in the fourth quarter valued at $57,000. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of research reports. Royal Bank Of Canada decreased their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target for the company. in a research note on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $101.25.

Insider Activity

In other news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president now directly owns 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $0.32 during midday trading on Friday, hitting $78.38. 4,745,006 shares of the stock traded hands, compared to its average volume of 2,059,741. The firm has a market capitalization of $11.46 billion, a P/E ratio of 26.39, a PEG ratio of 2.48 and a beta of 0.77. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. 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 firm has a 50-day moving average of $77.71 and a two-hundred day moving average of $85.80.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. The company 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%. Akamai Technologies's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Akamai Technologies 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.