Simmons Bank Reduces Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position 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 worth $4,120,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC boosted its position in shares of Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after purchasing an additional 100 shares during the period. Private Trust Co. NA boosted its position in shares of Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 worth $1,968,000 after purchasing an additional 108 shares in the last quarter. Finally, Capital Analysts LLC raised its position in shares of Akamai Technologies by 15.5% during the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 115 shares during the period. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,753 shares of company stock worth $3,368,303. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 0.0 %

Shares of NASDAQ:AKAM traded up $0.01 during trading on Wednesday, reaching $101.68. The stock had a trading volume of 1,111,289 shares, compared to its average volume of 1,580,314. The firm’s 50-day simple moving average is $105.97 and its 200 day simple moving average is $112.03. 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 one year low of $78.48 and a one year high of $129.17. The company has a market capitalization of $15.41 billion, a P/E ratio of 28.80, a PEG ratio of 2.81 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, research analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AKAM has been the topic of several research analyst reports. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Piper Sandler boosted their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, Citigroup lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.60.

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.