Sequoia Financial Advisors LLC Has $863,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sequoia Financial Advisors LLC trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 70.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,027 shares of the technology infrastructure company’s stock after selling 21,265 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Akamai Technologies were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AKAM. Metis Global Partners LLC boosted its holdings in shares of Akamai Technologies by 5.6% in the third quarter. Metis Global Partners LLC now owns 8,471 shares of the technology infrastructure company’s stock worth $855,000 after buying an additional 450 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 4.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,536 shares of the technology infrastructure company’s stock worth $458,000 after buying an additional 188 shares during the period. ING Groep NV lifted its position in shares of Akamai Technologies by 26.7% in the third quarter. ING Groep NV now owns 16,965 shares of the technology infrastructure company’s stock worth $1,713,000 after purchasing an additional 3,573 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Akamai Technologies by 7.3% in the third quarter. CIBC Asset Management Inc now owns 22,832 shares of the technology infrastructure company’s stock worth $2,305,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after purchasing an additional 103 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the sale, the chief operating officer now owns 14,239 shares in the company, valued at approximately $1,146,097.11. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Up 2.6 %

NASDAQ:AKAM opened at $80.73 on Monday. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.18. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $91.62 and its 200-day moving average is $95.88.

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

Analyst Ratings Changes

AKAM has been the subject of a number of research analyst reports. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. Finally, Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

About Akamai Technologies

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.