Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Cut by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 23,515 shares of the technology infrastructure company’s stock after selling 251 shares during the quarter. New York Life Investment Management LLC’s holdings in Akamai Technologies were worth $2,783,000 as of its most recent filing with the SEC.

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

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,753 shares of company stock valued at $3,368,303. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AKAM. KeyCorp lifted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Robert W. Baird raised 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 report on Thursday, March 7th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, Piper Sandler upped their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.60.

Akamai Technologies Trading Down 0.1 %

Akamai Technologies stock opened at $99.67 on Monday. Akamai Technologies, Inc. has a 12 month low of $76.85 and a 12 month high of $129.17. 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 stock has a market cap of $15.10 billion, a P/E ratio of 28.24, a P/E/G ratio of 2.81 and a beta of 0.72. The company’s fifty day simple moving average is $106.23 and its 200-day simple moving average is $112.05.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

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.