Elequin Capital LP Sells 135 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Elequin Capital LP reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 679 shares of the technology infrastructure company’s stock after selling 135 shares during the quarter. Elequin Capital LP’s holdings in Akamai Technologies were worth $65,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC boosted 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 valued at $67,000 after acquiring an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares during the last quarter. Tandem Investment Advisors Inc. raised its holdings in Akamai Technologies by 0.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after purchasing an additional 140 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Akamai Technologies by 1.2% during the fourth quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company’s stock valued at $1,161,000 after buying an additional 142 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent analyst reports. Oppenheimer assumed coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. UBS Group lifted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Susquehanna cut their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.26.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $77.49 on Wednesday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 2.74 and a beta of 0.82. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. 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 business has a fifty day simple moving average of $78.23 and a 200 day simple moving average of $88.18.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 35,321 shares of company stock valued at $2,986,916. Insiders own 2.00% of the company’s stock.

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.