Massmutual Trust Co. FSB ADV Sells 171 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Massmutual Trust Co. FSB ADV lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 27.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 454 shares of the technology infrastructure company’s stock after selling 171 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Akamai Technologies were worth $49,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AKAM. Paralel Advisors LLC increased its position in shares of Akamai Technologies by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 24,424 shares of the technology infrastructure company’s stock valued at $2,602,000 after purchasing an additional 278 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $1,048,000. Mariner LLC increased its position in shares of Akamai Technologies by 11.7% during the 3rd quarter. Mariner LLC now owns 23,657 shares of the technology infrastructure company’s stock valued at $2,520,000 after purchasing an additional 2,472 shares during the last quarter. Northern Trust Corp increased its position in shares of Akamai Technologies by 3.0% during the 3rd quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock valued at $204,788,000 after purchasing an additional 56,782 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Akamai Technologies by 6,424.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 17,095 shares of the technology infrastructure company’s stock valued at $1,821,000 after purchasing an additional 16,833 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AKAM. Bank of America cut their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Robert W. Baird dropped their price objective on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, May 10th. KeyCorp dropped their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Citigroup dropped their price objective on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Raymond James dropped their price objective on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $114.00.

Insider Activity

In other news, CEO F Thomson Leighton acquired 22,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Akamai Technologies news, CEO F Thomson Leighton purchased 22,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the transaction, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,000 shares of company stock valued at $826,460. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.5 %

AKAM opened at $88.92 on Friday. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 4.19 and a beta of 0.68. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a 12 month low of $86.94 and a 12 month high of $129.17. The stock has a fifty day moving average price of $95.33 and a 200-day moving average price of $107.94.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. During the same period in the prior year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.47 earnings per share for the current fiscal year.

Akamai Technologies declared that its board has authorized a stock repurchase plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.