Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 81.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 362,865 shares of the technology infrastructure company's stock after selling 1,556,149 shares during the quarter. Truist Financial Corp owned about 0.24% of Akamai Technologies worth $42,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AKAM. Planned Solutions Inc. purchased a new position in shares of Akamai Technologies during the 4th quarter worth approximately $37,000. Headinvest LLC purchased a new position in shares of Akamai Technologies during the third quarter worth $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at $43,000. Bruce G. Allen Investments LLC acquired a new position in Akamai Technologies during the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC boosted its holdings in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company's stock valued at $49,000 after acquiring an additional 125 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Up 0.1 %

Shares of Akamai Technologies stock traded up $0.10 during trading hours on Monday, hitting $101.78. The company had a trading volume of 705,175 shares, compared to its average volume of 1,602,727. The company's 50-day moving average is $106.82 and its two-hundred day moving average is $112.28. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $15.42 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Akamai Technologies's revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AKAM shares. HSBC lowered shares of Akamai Technologies from a "hold" rating to a "reduce" rating and cut their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an "underweight" rating in a research report on Wednesday, February 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. StockNews.com raised Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, January 25th. Finally, Citigroup lowered their price objective on Akamai Technologies from $140.00 to $117.00 and set a "neutral" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $121.60.

Insider Buying and Selling at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company's stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is owned by insiders.

Akamai Technologies Profile

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.