Leeward Investments LLC MA cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,156 shares of the technology infrastructure company’s stock after selling 4,948 shares during the quarter. Leeward Investments LLC MA’s holdings in Akamai Technologies were worth $16,441,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AKAM. Fox Run Management L.L.C. grew its stake in shares of Akamai Technologies by 467.7% in the 3rd quarter. Fox Run Management L.L.C. now owns 19,144 shares of the technology infrastructure company’s stock worth $1,450,000 after purchasing an additional 15,772 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Akamai Technologies by 42.4% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 251,322 shares of the technology infrastructure company’s stock valued at $19,040,000 after purchasing an additional 74,791 shares during the last quarter. HighTower Advisors LLC lifted its stake in Akamai Technologies by 132.4% during the fourth quarter. HighTower Advisors LLC now owns 25,960 shares of the technology infrastructure company’s stock valued at $2,265,000 after purchasing an additional 14,792 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in Akamai Technologies by 16.6% during the third quarter. Invenomic Capital Management LP now owns 499,097 shares of the technology infrastructure company’s stock worth $37,812,000 after buying an additional 71,173 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Akamai Technologies by 88.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 461,461 shares of the technology infrastructure company’s stock worth $40,262,000 after buying an additional 216,222 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.
Akamai Technologies Stock Down 0.7%
AKAM stock opened at $119.87 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market capitalization of $17.43 billion, a P/E ratio of 40.36, a P/E/G ratio of 3.77 and a beta of 0.59. Akamai Technologies, Inc. has a 52-week low of $69.78 and a 52-week high of $165.45. The company’s 50 day simple moving average is $128.49 and its 200-day simple moving average is $108.98.
Insiders Place Their Bets
In related news, EVP Kim Salem-Jackson sold 2,300 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $135.57, for a total transaction of $311,811.00. Following the transaction, the executive vice president directly owned 59,210 shares of the company’s stock, valued at approximately $8,027,099.70. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Robert Blumofe sold 243 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $129.41, for a total value of $31,446.63. Following the transaction, the chief technology officer directly owned 31,006 shares in the company, valued at $4,012,486.46. The trade was a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have issued reports on AKAM. Scotiabank upped their price target on Akamai Technologies from $120.00 to $180.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Morgan Stanley raised their price objective on Akamai Technologies from $120.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. The Goldman Sachs Group lifted their target price on Akamai Technologies from $76.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, May 8th. Zacks Research lowered Akamai Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $156.00 target price (up from $114.00) on shares of Akamai Technologies in a report on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $145.29.
View Our Latest Analysis on AKAM
Akamai Technologies Profile
Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.
The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.
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