O Shaughnessy Asset Management LLC Decreases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

O Shaughnessy Asset Management LLC lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,016 shares of the technology infrastructure company’s stock after selling 2,351 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Akamai Technologies were worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC grew its stake in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $57,000. TCTC Holdings LLC lifted its position in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after acquiring an additional 102 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after acquiring an additional 656 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $68.21 on Wednesday. The company has a market cap of $10.25 billion, a PE ratio of 20.92, a P/E/G ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $107.60. The firm has a 50-day simple moving average of $86.24 and a 200 day simple moving average of $93.42. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Piper Sandler decreased their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.55.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 5,628 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total value of $485,133.60. Following the sale, the chief operating officer now owns 24,597 shares in the company, valued at approximately $2,120,261.40. This trade represents a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This represents a 13.69 % 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 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.