Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 32.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 715 shares of the technology infrastructure company’s stock after selling 349 shares during the quarter. Penserra Capital Management LLC’s holdings in Akamai Technologies were worth $57,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the fourth quarter worth about $617,000. Atria Investments Inc lifted its holdings in Akamai Technologies by 5.6% in the fourth quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company’s stock worth $526,000 after purchasing an additional 293 shares during the period. Mather Group LLC. lifted its holdings in Akamai Technologies by 97.4% in the first quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company’s stock worth $99,000 after purchasing an additional 604 shares during the period. Amalgamated Bank lifted its holdings in Akamai Technologies by 0.5% in the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company’s stock worth $2,341,000 after purchasing an additional 139 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Akamai Technologies by 2.9% in the first quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company’s stock worth $588,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an “underweight” rating and a $63.00 price target for the company. Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target for the company. Scotiabank cut their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $101.25.

Akamai Technologies Price Performance

Shares of AKAM opened at $77.38 on Friday. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 2.44 and a beta of 0.77. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50-day moving average is $78.55 and its 200-day moving average is $83.71.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

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

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.