Cim Investment Management Inc. Has $1.23 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cim Investment Management Inc. trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 34.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,560 shares of the technology infrastructure company’s stock after selling 5,584 shares during the quarter. Cim Investment Management Inc.’s holdings in Akamai Technologies were worth $1,231,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Nordea Investment Management AB grew its holdings in shares of Akamai Technologies by 54.6% during the first quarter. Nordea Investment Management AB now owns 4,803,604 shares of the technology infrastructure company’s stock valued at $491,072,000 after buying an additional 1,696,661 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Akamai Technologies by 535.6% during the second quarter. Alliancebernstein L.P. now owns 1,494,463 shares of the technology infrastructure company’s stock valued at $174,254,000 after purchasing an additional 1,259,329 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Akamai Technologies during the first quarter valued at about $34,752,000. Disciplined Growth Investors Inc. MN lifted its position in shares of Akamai Technologies by 22.8% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,575,262 shares of the technology infrastructure company’s stock valued at $160,519,000 after purchasing an additional 292,343 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. lifted its position in shares of Akamai Technologies by 1,194.4% during the second quarter. Bowen Hanes & Co. Inc. now owns 298,025 shares of the technology infrastructure company’s stock valued at $34,750,000 after purchasing an additional 275,000 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

A number of research analysts recently weighed in on AKAM shares. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Thursday, September 30th. Piper Sandler lifted their price objective on shares of Akamai Technologies from $130.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 4th. Truist lifted their price objective on shares of Akamai Technologies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Robert W. Baird reaffirmed a “buy” rating on shares of Akamai Technologies in a research report on Thursday, August 5th. Finally, Raymond James started coverage on shares of Akamai Technologies in a research report on Monday, August 9th. They issued an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $126.73.

AKAM stock traded up $3.31 during midday trading on Thursday, reaching $105.43. The company had a trading volume of 49,109 shares, compared to its average volume of 1,549,900. The company has a market capitalization of $17.17 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.06 and a beta of 0.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.48 and a quick ratio of 3.48. Akamai Technologies, Inc. has a 1 year low of $92.64 and a 1 year high of $124.91. The firm has a 50-day moving average price of $110.59 and a 200-day moving average price of $112.04.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Monday, August 2nd. The technology infrastructure company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.30. Akamai Technologies had a net margin of 17.52% and a return on equity of 17.07%. The company had revenue of $852.82 million during the quarter, compared to analyst estimates of $845.52 million. On average, equities analysts predict that Akamai Technologies, Inc. will post 4.52 EPS for the current year.

In other news, insider Rick M. Mcconnell sold 3,605 shares of the company’s stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $120.00, for a total value of $432,600.00. Following the sale, the insider now directly owns 26,171 shares of the company’s stock, valued at approximately $3,140,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief technology officer now directly owns 19,906 shares in the company, valued at $2,388,720. The disclosure for this sale can be found here. Insiders sold a total of 12,605 shares of company stock valued at $1,503,840 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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