Knowledge Leaders Capital LLC Sells 248 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Knowledge Leaders Capital LLC lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,750 shares of the technology infrastructure company’s stock after selling 248 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Akamai Technologies were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC increased its holdings in Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after purchasing an additional 100 shares during the last quarter. Private Trust Co. NA increased its holdings in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after purchasing an additional 108 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Akamai Technologies by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after acquiring an additional 108 shares during the period. Finally, Xponance Inc. grew its stake in Akamai Technologies by 0.5% in the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after acquiring an additional 110 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Piper Sandler boosted their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, Citigroup decreased their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Akamai Technologies Stock Down 0.1 %

NASDAQ AKAM traded down $0.11 during trading hours on Friday, hitting $101.68. 820,088 shares of the company traded hands, compared to its average volume of 1,107,475. The business’s 50-day moving average is $106.97 and its 200-day moving average is $112.27. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.87 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $999.09 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last 90 days. Company insiders own 1.80% of the company’s stock.

About Akamai Technologies

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.