Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 294,809 shares of the technology infrastructure company's stock after selling 34,312 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.20% of Akamai Technologies worth $28,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC raised its stake in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Akamai Technologies by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after acquiring an additional 114 shares during the period. Koshinski Asset Management Inc. grew its stake in Akamai Technologies by 1.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock valued at $752,000 after purchasing an additional 116 shares during the last quarter. Delta Capital Management LLC increased its holdings in shares of Akamai Technologies by 4.5% in the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock valued at $267,000 after purchasing an additional 120 shares during the period. Finally, Tandem Investment Advisors Inc. raised its stake in shares of Akamai Technologies by 0.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of AKAM traded down $0.10 during mid-day trading on Tuesday, hitting $83.00. 141,366 shares of the company were exchanged, compared to its average volume of 1,927,134. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The company has a 50 day moving average of $78.73 and a 200-day moving average of $89.89. 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 announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AKAM. JPMorgan Chase & Co. cut their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada lowered 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 report on Friday, February 21st. Finally, Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.75.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the transaction, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at $1,146,097.11. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO F Thomson Leighton purchased 37,670 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 31,394 shares of company stock valued at $2,653,043 in the last 90 days. 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.