Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,030 shares of the technology infrastructure company’s stock after selling 710 shares during the period. Metis Global Partners LLC’s holdings in Akamai Technologies were worth $832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKAM. Planned Solutions Inc. acquired a new position in shares of Akamai Technologies during the fourth quarter worth $37,000. Headinvest LLC purchased a new stake in Akamai Technologies during the 3rd quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies during the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AKAM. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Piper Sandler lifted their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Finally, KeyCorp raised their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.60.

Akamai Technologies Stock Up 0.3 %

AKAM opened at $102.46 on Friday. Akamai Technologies, Inc. has a 52 week low of $83.12 and a 52 week high of $129.17. The business has a 50 day moving average price of $105.68 and a two-hundred day moving average price of $111.90. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.53 billion, a PE ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were 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 owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock worth $3,368,303 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Company 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.