Migdal Insurance & Financial Holdings Ltd. Lowers Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Migdal Insurance & Financial Holdings Ltd. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the technology infrastructure company's stock after selling 3,824 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Akamai Technologies were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Akamai Technologies during the fourth quarter worth $617,000. Mather Group LLC. increased its position in shares of Akamai Technologies by 97.4% during the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after purchasing an additional 604 shares during the last quarter. Amalgamated Bank grew its stake in shares of Akamai Technologies by 0.5% in the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after buying an additional 139 shares in the last quarter. QRG Capital Management Inc. increased 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 last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 595.7% during the first quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock worth $130,000 after purchasing an additional 1,382 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the company'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 sale, the chief operating officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares in the company, valued at $2,514,811.26. This trade represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,084 shares of company stock valued at $1,726,847 over the last ninety days. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Up 0.7%

Shares of NASDAQ:AKAM traded up $0.55 during trading on Monday, reaching $79.24. 612,715 shares of the company traded hands, compared to its average volume of 2,442,010. The business's fifty day moving average is $78.09 and its 200-day moving average is $82.97. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week 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. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.49 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

AKAM has been the subject of several research reports. 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 research report on Friday, May 9th. UBS Group upped 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. Wall Street Zen downgraded Akamai Technologies from a "buy" rating to a "hold" rating in a report on Sunday. Piper Sandler reissued a "neutral" rating and set a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Finally, KeyCorp assumed coverage on Akamai Technologies in a research report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of "Hold" and an average target price of $101.25.

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.