Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,384 shares of the technology infrastructure company’s stock after selling 4,059 shares during the quarter. First Horizon Advisors Inc. owned about 0.08% of Akamai Technologies worth $15,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Duality Advisers LP purchased a new stake in Akamai Technologies in the 4th quarter valued at $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Akamai Technologies during the fourth quarter worth about $1,184,000. RWA Wealth Partners LLC purchased a new position in Akamai Technologies during the fourth quarter worth about $4,441,000. Quadrature Capital Ltd acquired a new position in Akamai Technologies in the 3rd quarter valued at about $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $1,879,000. 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 14,349 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,753 shares of company stock valued at $3,368,303. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of several research reports. Citigroup decreased their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. KeyCorp increased their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, Piper Sandler lifted their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $2.49 during trading hours on Thursday, reaching $98.40. The company’s stock had a trading volume of 865,613 shares, compared to its average volume of 1,584,998. The stock has a market cap of $14.91 billion, a PE ratio of 27.86, a PEG ratio of 2.85 and a beta of 0.72. The business has a 50-day simple moving average of $106.55 and a 200 day simple moving average of $112.16. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post 4.84 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.