Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Lbp Am Sa

Lbp Am Sa decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 100.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,013 shares of the technology infrastructure company’s stock after selling 16,336,696 shares during the quarter. Lbp Am Sa’s holdings in Akamai Technologies were worth $763,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AKAM. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies in the 4th quarter valued at about $43,000. Covestor Ltd boosted its holdings in Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares in the last quarter. Lindbrook Capital LLC grew its stake in Akamai Technologies by 43.7% during the 4th 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. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Akamai Technologies by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 129 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AKAM shares. Raymond James cut their price target on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Scotiabank started coverage on Akamai Technologies in a research report on Monday, July 8th. They set a “sector outperform” rating and a $110.00 price objective on the stock. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Monday. KeyCorp decreased their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.44.

Akamai Technologies Stock Down 1.1 %

Akamai Technologies stock traded down $1.09 during midday trading on Friday, hitting $94.35. 581,076 shares of the stock were exchanged, compared to its average volume of 1,645,222. The firm has a market cap of $14.37 billion, a P/E ratio of 23.74, a P/E/G ratio of 4.71 and a beta of 0.67. The company has a 50 day moving average price of $92.27 and a two-hundred day moving average price of $103.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick 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 posted its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 15.02% and a net margin of 16.12%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 9th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, CEO F Thomson Leighton purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the purchase, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock worth $826,460. 1.80% of the stock is owned by company insiders.

Akamai Technologies Company 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.