Federated Hermes Inc. Sells 6,003 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Federated Hermes Inc. trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 91.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587 shares of the technology infrastructure company’s stock after selling 6,003 shares during the period. Federated Hermes Inc.’s holdings in Akamai Technologies were worth $69,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Planned Solutions Inc. bought a new position in shares of Akamai Technologies in the fourth quarter worth about $37,000. Headinvest LLC bought a new stake in Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies during the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $44,000. Finally, UMB Bank n.a. increased its stake in shares of Akamai Technologies by 144.3% in the fourth quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 332 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Up 1.4 %

NASDAQ AKAM opened at $101.08 on Tuesday. Akamai Technologies, Inc. has a 52 week low of $78.35 and a 52 week high of $129.17. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.81 and a beta of 0.72. 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 company has a fifty day moving average of $106.23 and a two-hundred day moving average of $112.09.

Akamai Technologies (NASDAQ:AKAM) last issued 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 firm 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale 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 4,500 shares of the 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 transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,753 shares of company stock worth $3,368,303. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and cut their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.60.

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.