Kintegral Advisory LLC Decreases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kintegral Advisory LLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,891 shares of the technology infrastructure company’s stock after selling 320 shares during the quarter. Kintegral Advisory LLC’s holdings in Akamai Technologies were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock valued at $10,315,000 after buying an additional 12,913 shares in the last quarter. Signaturefd LLC grew its holdings in Akamai Technologies by 10.1% in the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after acquiring an additional 129 shares during the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies during the third quarter valued at approximately $71,000. Private Advisor Group LLC boosted its position in Akamai Technologies by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after acquiring an additional 477 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Akamai Technologies in the third quarter worth about $30,470,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AKAM has been the topic of several recent analyst reports. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $112.00 to $100.00 in a research report on Friday. Citigroup lowered their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $107.90.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 over the last ninety days. 1.80% of the stock is owned by insiders.

Akamai Technologies Stock Down 21.7 %

Shares of AKAM opened at $76.73 on Friday. The business’s 50 day simple moving average is $96.15 and its 200-day simple moving average is $97.90. Akamai Technologies, Inc. has a 1 year low of $76.50 and a 1 year high of $113.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.