Worldquant Millennium Advisors LLC Has $8.63 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Worldquant Millennium Advisors LLC lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,217 shares of the technology infrastructure company's stock after selling 41,659 shares during the period. Worldquant Millennium Advisors LLC owned 0.06% of Akamai Technologies worth $8,629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKAM. Itau Unibanco Holding S.A. grew its holdings in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the fourth quarter worth $49,000. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter worth $57,000. LRI Investments LLC grew its stake in shares of Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded up $1.75 during trading on Tuesday, reaching $77.59. The company's stock had a trading volume of 461,997 shares, compared to its average volume of 2,004,592. The stock has a 50-day moving average price of $77.77 and a two-hundred day moving average price of $87.44. 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 one year low of $67.51 and a one year high of $106.80. The stock has a market capitalization of $11.34 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82.

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. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada reduced their target price on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Finally, Craig Hallum cut Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research report on Friday, February 21st. One research 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 MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.26.

Insider Activity at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,683 shares of Akamai Technologies stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction dated 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 sale, the chief operating officer now owns 10,809 shares of the company's stock, valued at approximately $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,321 shares of company stock valued at $2,986,916 over the last ninety days. 2.00% of the stock is owned by insiders.

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.