CX Institutional Decreases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

CX Institutional cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 78.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,316 shares of the technology infrastructure company’s stock after selling 8,539 shares during the quarter. CX Institutional’s holdings in Akamai Technologies were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock worth $35,000 after purchasing an additional 155 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $49,000. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $57,000. Finally, LRI Investments LLC raised its holdings in shares of Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company’s stock worth $60,000 after purchasing an additional 520 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 1.9%

Shares of AKAM opened at $77.03 on Monday. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 2.74 and a beta of 0.77. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The company has a 50-day moving average price of $77.26 and a two-hundred day moving average price of $86.13.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity

In other news, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the transaction, the chief operating officer now owns 10,809 shares in the company, valued at approximately $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president now owns 43,575 shares of the company’s stock, valued at $3,326,079.75. This trade represents a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AKAM has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Susquehanna lowered their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target for the company. Finally, UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and an average price target of $101.25.

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.