USS Investment Management Ltd Sells 9,360 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

USS Investment Management Ltd decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,419 shares of the technology infrastructure company's stock after selling 9,360 shares during the quarter. USS Investment Management Ltd's holdings in Akamai Technologies were worth $2,623,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AKAM. Itau Unibanco Holding S.A. increased 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 valued at $45,000 after acquiring an additional 234 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the fourth quarter worth about $49,000. Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth about $57,000. LRI Investments LLC grew its holdings in shares of Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after purchasing an additional 520 shares during the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded down $1.47 during midday trading on Wednesday, reaching $76.42. 1,205,425 shares of the company traded hands, compared to its average volume of 2,006,791. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The firm's fifty day moving average price is $77.70 and its two-hundred day moving average price is $87.37.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results 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. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares of the company's stock, valued at $2,040,074.12. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,321 shares of company stock worth $2,986,916. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AKAM shares. Susquehanna cut their price target on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price on the stock. in a research report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $98.00 in a report on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.26.

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.