Bank of Montreal Can Decreases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bank of Montreal Can trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 24.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 113,928 shares of the technology infrastructure company’s stock after selling 37,336 shares during the quarter. Bank of Montreal Can’s holdings in Akamai Technologies were worth $10,770,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ancora Advisors LLC raised its holdings in shares of Akamai Technologies by 103.3% during the 1st 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 in the last quarter. CX Institutional purchased a new position in shares of Akamai Technologies during the 2nd quarter valued at about $28,000. Karlinski Andrew C purchased a new position in shares of Akamai Technologies during the 1st quarter valued at about $30,000. Larson Financial Group LLC bought a new position in Akamai Technologies during the 2nd quarter worth approximately $41,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Akamai Technologies during the 1st quarter worth approximately $72,000. 92.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 1,500 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the sale, the executive vice president now directly owns 31,183 shares in the company, valued at $2,519,274.57. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Paul C. Joseph sold 1,500 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the sale, the executive vice president now directly owns 31,183 shares in the company, valued at $2,519,274.57. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the transaction, the chief technology officer now directly owns 9,835 shares in the company, valued at approximately $913,868.20. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the topic of several recent research reports. TheStreet lowered Akamai Technologies from a “b-” rating to a “c+” rating in a research report on Tuesday, September 20th. DA Davidson cut their price objective on Akamai Technologies to $100.00 in a research report on Tuesday, November 15th. Truist Financial cut their price objective on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Citigroup cut their price objective on Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. Finally, Cowen cut their price objective on Akamai Technologies from $164.00 to $137.00 in a research report on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.93.

Akamai Technologies Trading Up 0.2 %

Shares of NASDAQ AKAM opened at $91.92 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.25 and a current ratio of 2.25. The business’s 50 day moving average price is $85.66 and its 200-day moving average price is $91.26. Akamai Technologies, Inc. has a fifty-two week low of $76.28 and a fifty-two week high of $123.25. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.82 and a beta of 0.71.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.04. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The firm had revenue of $881.90 million for the quarter, compared to the consensus estimate of $875.99 million. During the same period in the prior year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.17 earnings per share for the current year.

Akamai Technologies 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.

Further Reading

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

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