Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 60.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 342,954 shares of the technology infrastructure company’s stock after selling 519,549 shares during the period. Akamai Technologies accounts for 1.2% of LGT Capital Partners LTD.’s portfolio, making the stock its 27th largest position. LGT Capital Partners LTD. owned about 0.23% of Akamai Technologies worth $40,589,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC raised its holdings 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 period. Planned Solutions Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $37,000. Headinvest LLC purchased a new stake in Akamai Technologies during the 3rd quarter worth approximately $40,000. Belpointe Asset Management LLC boosted its stake in shares of Akamai Technologies by 50.1% during the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after buying an additional 170 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Akamai Technologies in the fourth quarter worth $44,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the sale, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the sale, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at $2,359,242.70. The disclosure for this sale can be found here. Insiders sold 37,353 shares of company stock valued at $4,159,203 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AKAM. KeyCorp raised their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. JPMorgan Chase & Co. upped their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their target price 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. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus price target of $119.50.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $108.76 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 1 year low of $76.28 and a 1 year high of $129.17. The business has a fifty day simple moving average of $114.77 and a 200 day simple moving average of $112.58. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 3.09 and a beta of 0.72.

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