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

Vident Advisory LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,859 shares of the technology infrastructure company's stock after selling 11,512 shares during the period. Vident Advisory LLC owned about 0.07% of Akamai Technologies worth $9,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCTC Holdings LLC increased 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 buying an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC increased 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 buying an additional 114 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Akamai Technologies by 1.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after buying an additional 116 shares in the last quarter. Tandem Investment Advisors Inc. increased 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 buying an additional 140 shares in the last quarter. Finally, M&T Bank Corp increased 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 buying an additional 142 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AKAM shares. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target 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. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Morgan Stanley lowered their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, UBS Group increased their price objective on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $103.26.

Akamai Technologies Stock Performance

AKAM stock opened at $77.87 on Tuesday. The stock has a 50-day moving average price of $78.25 and a 200-day moving average price of $88.26. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.39 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $1.64 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other news, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost 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 approximately $10,929,676.36. This represents a 37.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Karon sold 6,431 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the completion of the sale, the chief operating officer now owns 14,239 shares of the company's stock, valued at approximately $1,146,097.11. This represents a 31.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,321 shares of company stock worth $2,986,916 in the last three months. Company insiders own 2.00% of the company's stock.

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.

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