Brown Brothers Harriman & Co. Cuts Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Brown Brothers Harriman & Co. lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,401 shares of the technology infrastructure company’s stock after selling 499 shares during the period. Brown Brothers Harriman & Co.’s holdings in Akamai Technologies were worth $746,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ameritas Investment Company LLC bought a new position in shares of Akamai Technologies in the 1st quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in Akamai Technologies during the first quarter valued at approximately $35,000. O Shaughnessy Asset Management LLC grew its holdings in Akamai Technologies by 33.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 368 shares of the technology infrastructure company’s stock worth $37,000 after purchasing an additional 92 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new position in Akamai Technologies in the second quarter worth $41,000. Finally, CSat Investment Advisory L.P. grew its holdings in Akamai Technologies by 57.4% in the first quarter. CSat Investment Advisory L.P. now owns 529 shares of the technology infrastructure company’s stock worth $54,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

AKAM has been the subject of a number of research reports. Truist Securities boosted their target price on shares of Akamai Technologies from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, August 4th. Raymond James assumed coverage on shares of Akamai Technologies in a research report on Monday, August 9th. They issued an “outperform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Thursday, September 30th. Robert W. Baird reiterated a “buy” rating on shares of Akamai Technologies in a research report on Thursday, August 5th. Finally, Truist upped 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. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Buy” and an average target price of $126.73.

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

Shares of NASDAQ AKAM opened at $102.12 on Thursday. Akamai Technologies, Inc. has a 12-month low of $92.64 and a 12-month high of $124.91. The stock has a market cap of $16.63 billion, a PE ratio of 29.09, a P/E/G ratio of 2.06 and a beta of 0.43. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $110.59 and a 200 day moving average of $112.04.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Monday, August 2nd. The technology infrastructure company reported $1.42 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $845.52 million. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.52 EPS for the current fiscal year.

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.

Read More: Key terms to understand channel trading

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).

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

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.