Vident Advisory LLC Sells 11,512 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Vident Advisory LLC reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,859 shares of the technology infrastructure company's stock after selling 11,512 shares during the quarter. Vident Advisory LLC owned 0.07% of Akamai Technologies worth $9,647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Two Sigma Advisers LP grew its stake in shares of Akamai Technologies by 23.5% during the fourth quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company's stock valued at $7,547,000 after buying an additional 15,000 shares during the last quarter. Texas Bank & Trust Co bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $316,000. Tidal Investments LLC grew its stake in shares of Akamai Technologies by 8.0% during the fourth quarter. Tidal Investments LLC now owns 23,908 shares of the technology infrastructure company's stock valued at $2,287,000 after buying an additional 1,777 shares during the last quarter. Snowden Capital Advisors LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $270,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $2,455,000. 94.28% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 14th. The shares were 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 in the company, valued at approximately $2,040,074.12. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now owns 23,988 shares of the company's stock, valued at $2,075,441.76. The trade was a 30.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,321 shares of company stock worth $2,986,916. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Citigroup cut their target price on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Morgan Stanley cut their target price on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Susquehanna cut their target price 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. Finally, Royal Bank of Canada cut their target price on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.26.

Akamai Technologies Stock Down 1.6%

AKAM traded down $1.24 on Friday, hitting $75.84. The company had a trading volume of 1,946,737 shares, compared to its average volume of 2,010,635. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The stock has a fifty day simple moving average of $77.90 and a 200-day simple moving average of $87.65. The firm has a market capitalization of $11.09 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.64 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal 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.