Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 56.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,794 shares of the technology infrastructure company’s stock after selling 58,212 shares during the period. Intech Investment Management LLC’s holdings in Akamai Technologies were worth $4,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its position in Akamai Technologies by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after acquiring an additional 88,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after acquiring an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Akamai Technologies by 8.9% in the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after acquiring an additional 74,373 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of research reports. UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Raymond James reduced their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 21st. Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.55.

Insiders Place Their Bets

In other Akamai Technologies news, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now owns 34,510 shares in the company, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by company insiders.

Akamai Technologies Trading Down 0.9 %

Shares of AKAM opened at $82.06 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $91.20 and its two-hundred day moving average is $95.61. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $110.18. The firm has a market capitalization of $12.34 billion, a P/E ratio of 25.17, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.