CFO4Life Group LLC Sells 110 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

CFO4Life Group LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,202 shares of the technology infrastructure company’s stock after selling 110 shares during the period. CFO4Life Group LLC’s holdings in Akamai Technologies were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Planned Solutions Inc. acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $37,000. Headinvest LLC acquired a new stake in Akamai Technologies in the third quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC boosted its stake in Akamai Technologies by 43.7% in the fourth 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 in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the sale, the chief technology officer now owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the sale, the director now owns 14,519 shares of the company’s stock, valued at approximately $1,358,107.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the sale, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $826,460 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM stock traded up $1.51 on Friday, reaching $95.61. 626,989 shares of the company were exchanged, compared to its average volume of 1,698,580. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 4.49 and a beta of 0.67. The business has a 50-day moving average price of $92.38 and a 200 day moving average price of $105.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies announced that its board has authorized a stock repurchase plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AKAM shares. Craig Hallum lowered their target price on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Scotiabank started coverage on shares of Akamai Technologies in a report on Monday. They issued a “sector outperform” rating and a $110.00 price target for the company. Citigroup decreased their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. KeyCorp decreased their price target on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Raymond James decreased their price target on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.76.

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.