Exane Derivatives Reduces Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Exane Derivatives lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 83.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 516 shares of the technology infrastructure company’s stock after selling 2,609 shares during the period. Exane Derivatives’ holdings in Akamai Technologies were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $25,000. Karlinski Andrew C purchased a new stake in Akamai Technologies in the first quarter valued at approximately $30,000. Ancora Advisors LLC boosted its position in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Baystate Wealth Management LLC boosted its position in Akamai Technologies by 33.3% in the first quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 92.23% of the company’s stock.

Akamai Technologies Trading Down 2.5 %

Shares of AKAM stock opened at $83.80 on Thursday. The stock has a 50 day simple moving average of $92.32 and a 200-day simple moving average of $100.72. Akamai Technologies, Inc. has a 1-year low of $83.78 and a 1-year high of $123.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.76 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAMGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The technology infrastructure company reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The firm had revenue of $903.33 million during the quarter, compared to the consensus estimate of $898.75 million. During the same period in the prior year, the company earned $1.18 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AKAM shares. Piper Sandler dropped their target price on Akamai Technologies from $118.00 to $102.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 6th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Evercore ISI lowered their price objective on Akamai Technologies to $110.00 in a research report on Monday, August 15th. Robert W. Baird lowered their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. Finally, KeyCorp lowered their price objective on Akamai Technologies from $123.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $118.21.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $94.25, for a total value of $471,250.00. Following the completion of the transaction, the chief technology officer now directly owns 14,835 shares of the company’s stock, valued at approximately $1,398,198.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Akamai Technologies Company Profile

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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

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