Alpha Paradigm Partners LLC Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Alpha Paradigm Partners LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 43.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,405 shares of the technology infrastructure company’s stock after selling 1,882 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Akamai Technologies were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in shares of Akamai Technologies by 3.4% during the second quarter. Neuberger Berman Group LLC now owns 8,016 shares of the technology infrastructure company’s stock valued at $845,000 after buying an additional 266 shares during the last quarter. QS Investors LLC purchased a new stake in shares of Akamai Technologies during the second quarter valued at $220,000. Horizon Investment Services LLC boosted its position in shares of Akamai Technologies by 4.7% during the second quarter. Horizon Investment Services LLC now owns 21,781 shares of the technology infrastructure company’s stock valued at $2,540,000 after buying an additional 969 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Akamai Technologies by 44.7% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 124,747 shares of the technology infrastructure company’s stock valued at $14,546,000 after buying an additional 38,559 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Akamai Technologies by 1.5% during the second quarter. Franklin Resources Inc. now owns 34,701 shares of the technology infrastructure company’s stock valued at $4,047,000 after buying an additional 499 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on AKAM shares. Truist increased their price objective on Akamai Technologies from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, August 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Thursday, September 30th. Raymond James assumed coverage on Akamai Technologies in a report on Monday, August 9th. They issued an “outperform” rating on the stock. Robert W. Baird reissued a “buy” rating on shares of Akamai Technologies in a report on Thursday, August 5th. Finally, Truist Securities increased their target price on Akamai Technologies from $130.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $126.73.

NASDAQ AKAM opened at $102.12 on Thursday. The stock’s 50-day moving average price is $110.59 and its 200-day moving average price is $112.04. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.43. Akamai Technologies, Inc. has a 52 week low of $92.64 and a 52 week high of $124.91. The company has a market capitalization of $16.63 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.43.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Monday, August 2nd. The technology infrastructure company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.30. The company had revenue of $852.82 million for the quarter, compared to the consensus estimate of $845.52 million. Akamai Technologies had a return on equity of 17.07% and a net margin of 17.52%. Research analysts anticipate that Akamai Technologies, Inc. will post 4.52 EPS for the current year.

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 23rd. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief technology officer now owns 19,906 shares in the company, valued at approximately $2,388,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick M. Mcconnell sold 3,605 shares of the firm’s stock in a transaction that occurred on Friday, July 23rd. The shares were sold at an average price of $120.00, for a total value of $432,600.00. Following the transaction, the insider now owns 26,171 shares of the company’s stock, valued at approximately $3,140,520. The disclosure for this sale can be found here. Insiders have sold a total of 12,605 shares of company stock worth $1,503,840 in the last three months. 1.60% of the stock is owned by corporate insiders.

About Akamai Technologies

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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