North Star Asset Management Inc. Has $10.91 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

North Star Asset Management Inc. lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,023 shares of the technology infrastructure company's stock after selling 4,101 shares during the period. North Star Asset Management Inc. owned 0.08% of Akamai Technologies worth $10,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AKAM. TCTC Holdings LLC raised its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after purchasing an additional 114 shares during the last quarter. Tandem Investment Advisors Inc. raised its holdings in shares of Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Akamai Technologies by 1.2% during the fourth quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company's stock worth $1,161,000 after purchasing an additional 142 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Akamai Technologies by 5.5% during the fourth quarter. HB Wealth Management LLC now owns 3,102 shares of the technology infrastructure company's stock worth $297,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AKAM. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Oppenheimer began coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. Finally, Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $103.26.

Insiders Place Their Bets

In related news, COO Adam Karon sold 3,927 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value 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 trade 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 is available through this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares of the company's stock, valued at $10,929,676.36. This trade represents a 37.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,321 shares of company stock valued at $2,986,916 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Trading Up 2.7%

AKAM stock traded up $2.05 during mid-day trading on Tuesday, reaching $77.89. 1,845,236 shares of the stock traded hands, compared to its average volume of 2,009,986. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a market cap of $11.39 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.74 and a beta of 0.82. The stock's fifty day moving average is $77.77 and its 200-day moving average is $87.44.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current 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.