Migdal Insurance & Financial Holdings Ltd. Sells 417 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Migdal Insurance & Financial Holdings Ltd. cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,521 shares of the technology infrastructure company’s stock after selling 417 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Akamai Technologies were worth $1,964,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $432,000. Desjardins Global Asset Management Inc. lifted its holdings in Akamai Technologies by 8.3% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,012 shares of the technology infrastructure company’s stock worth $238,000 after buying an additional 154 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $9,078,000. SVB Wealth LLC bought a new stake in Akamai Technologies during the 4th quarter valued at approximately $233,000. Finally, Capital Analysts LLC increased its stake in shares of Akamai Technologies by 15.5% in the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $100.34 on Thursday. The stock has a market capitalization of $15.20 billion, a PE ratio of 28.43, a P/E/G ratio of 2.86 and a beta of 0.72. The firm has a 50 day moving average of $109.64 and a two-hundred day moving average of $112.53. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, research analysts predict that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was 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 directly owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The disclosure for this sale can be found here. Insiders sold a total of 33,353 shares of company stock worth $3,688,883 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Piper Sandler lifted their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.27.

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.