Simmons Bank Has $427,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Simmons Bank cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,610 shares of the technology infrastructure company’s stock after selling 312 shares during the period. Simmons Bank’s holdings in Akamai Technologies were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AKAM. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $37,000. Headinvest LLC acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at about $40,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the fourth quarter valued at about $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $44,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value 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 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 business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,753 shares of company stock valued at $3,368,303. 2.00% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.01 during mid-day trading on Wednesday, reaching $101.68. 1,111,289 shares of the company were exchanged, compared to its average volume of 1,580,314. The company’s 50-day simple moving average is $105.97 and its 200-day simple moving average is $112.03. 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 capitalization of $15.41 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.81 and a beta of 0.72. Akamai Technologies, Inc. has a twelve month low of $78.48 and a twelve month high of $129.17.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Piper Sandler increased their price objective 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. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Citigroup reduced their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Akamai Technologies 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.