Worldquant Millennium Advisors LLC Reduces Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Worldquant Millennium Advisors LLC decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,217 shares of the technology infrastructure company's stock after selling 41,659 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.06% of Akamai Technologies worth $8,629,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Woodline Partners LP acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $458,000. Two Sigma Advisers LP lifted its stake in shares of Akamai Technologies by 23.5% in the fourth quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company's stock worth $7,547,000 after buying an additional 15,000 shares in the last quarter. Texas Bank & Trust Co purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $316,000. Tidal Investments LLC lifted its stake in shares of Akamai Technologies by 8.0% in the fourth quarter. Tidal Investments LLC now owns 23,908 shares of the technology infrastructure company's stock worth $2,287,000 after buying an additional 1,777 shares in the last quarter. Finally, Snowden Capital Advisors LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $270,000. Institutional investors and hedge funds own 94.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued a "neutral" rating and issued a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research note on Friday, February 21st. Royal Bank of Canada decreased their price target on shares of 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. Citigroup decreased their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, Morgan Stanley decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of "Moderate Buy" and an average price target of $103.26.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now owns 23,988 shares in the company, valued at approximately $2,075,441.76. This trade represents a 30.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,321 shares of company stock valued at $2,986,916. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Down 1.6%

Shares of Akamai Technologies stock traded down $1.24 on Friday, reaching $75.84. The company had a trading volume of 1,946,737 shares, compared to its average volume of 2,010,635. The firm's 50 day moving average price is $77.90 and its two-hundred day moving average price is $87.65. The firm has a market cap of $11.09 billion, a PE ratio of 23.26, a PEG ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

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