Allspring Global Investments Holdings LLC Sells 7,207 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Allspring Global Investments Holdings LLC trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,376 shares of the technology infrastructure company’s stock after selling 7,207 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Akamai Technologies were worth $3,000,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ancora Advisors LLC raised its holdings in shares of Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after buying an additional 170 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Akamai Technologies by 524.7% in the first quarter. Dark Forest Capital Management LP now owns 556 shares of the technology infrastructure company’s stock worth $44,000 after buying an additional 467 shares during the period. Covestor Ltd raised its holdings in shares of Akamai Technologies by 50.1% in the first quarter. Covestor Ltd now owns 635 shares of the technology infrastructure company’s stock worth $76,000 after buying an additional 212 shares during the period. Finally, Vigilant Capital Management LLC raised its holdings in shares of Akamai Technologies by 40.0% in the first quarter. Vigilant Capital Management LLC now owns 700 shares of the technology infrastructure company’s stock worth $55,000 after buying an additional 200 shares during the period. 91.40% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $108.50 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $70.65 and a fifty-two week high of $109.24. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s 50-day simple moving average is $105.54 and its 200-day simple moving average is $95.93.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, August 8th. The technology infrastructure company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). Akamai Technologies had a return on equity of 14.41% and a net margin of 12.64%. The business had revenue of $935.72 million for the quarter, compared to analysts’ expectations of $931.52 million. As a group, equities analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price target on Akamai Technologies from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Bank of America began coverage on Akamai Technologies in a report on Thursday, September 7th. They set a “buy” rating and a $145.00 price objective on the stock. StockNews.com initiated coverage on Akamai Technologies in a report on Thursday, October 5th. They issued a “buy” rating for the company. Tigress Financial restated a “strong-buy” rating and set a $132.00 price target on shares of Akamai Technologies in a research note on Wednesday, September 20th. Finally, Morgan Stanley upped their price objective on shares of Akamai Technologies from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $109.72.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,456 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $103.92, for a total transaction of $255,227.52. Following the completion of the transaction, the chief financial officer now directly owns 15,712 shares of the company’s stock, valued at approximately $1,632,791.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,456 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $103.92, for a total transaction of $255,227.52. Following the completion of the transaction, the chief financial officer now directly owns 15,712 shares of the company’s stock, valued at approximately $1,632,791.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $105.67, for a total transaction of $422,680.00. Following the transaction, the executive vice president now directly owns 28,065 shares of the company’s stock, valued at $2,965,628.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,446 shares of company stock valued at $3,539,984. 1.80% of the stock is owned by insiders.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.