Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,267 shares of the technology infrastructure company’s stock after selling 876 shares during the quarter. M&T Bank Corp’s holdings in Akamai Technologies were worth $908,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted 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. lifted 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. LRI Investments LLC lifted 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. TCTC Holdings LLC lifted its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of Akamai Technologies by 200.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock worth $68,000 after purchasing an additional 472 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 0.0%

Akamai Technologies stock opened at $77.41 on Tuesday. The stock has a market cap of $11.32 billion, a PE ratio of 26.06, a P/E/G ratio of 2.44 and a beta of 0.77. The stock has a 50-day moving average price of $78.55 and a 200 day moving average price of $83.61. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data 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 return on equity of 14.09% and a net margin of 11.26%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the sale, the chief operating officer directly owned 10,809 shares of the company’s stock, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AKAM. Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley decreased their price target on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Scotiabank reduced their target price on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. UBS Group raised their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Oppenheimer initiated coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.25.

Akamai Technologies 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.