Natixis Advisors LLC Lowers Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Key Points

• Natixis Advisors LLC reduced its stake in Akamai Technologies by 22.0%, owning 205,544 shares after selling 57,889 shares, bringing the total value to approximately $16.5 million.
• Several other institutional investors have made adjustments, such as Brighton Jones LLC, which increased its stake by 101.4% in the fourth quarter, underscoring significant shifts in overall investment strategy for Akamai Technologies.
• Despite a 2.5% decrease in stock price recently, Akamai reported better-than-expected quarterly earnings, with an EPS of $1.70, exceeding estimates by $0.12.

Natixis Advisors LLC reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 22.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,544 shares of the technology infrastructure company's stock after selling 57,889 shares during the quarter. Natixis Advisors LLC owned 0.14% of Akamai Technologies worth $16,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AKAM. Brighton Jones LLC boosted its stake in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock worth $384,000 after buying an additional 2,022 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Akamai Technologies in the 4th quarter worth $9,457,000. Atlas Capital Advisors Inc. lifted its stake in Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock worth $68,000 after purchasing an additional 472 shares during the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $381,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $6,021,000. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Adam Karon sold 3,927 shares of the business'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 sale, the chief operating officer owned 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the sale, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. This trade represents a 23.19% 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 three months. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Down 2.5%

NASDAQ AKAM opened at $74.38 on Friday. The stock has a market cap of $10.88 billion, a PE ratio of 25.04, a P/E/G ratio of 2.35 and a beta of 0.76. The business has a 50 day moving average price of $78.38 and a two-hundred day moving average price of $82.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. 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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AKAM. KeyCorp began coverage on Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Scotiabank dropped their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Morgan Stanley cut their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Piper Sandler restated a "neutral" rating and set a $88.00 target price (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $99.84.

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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