Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Decreased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.7% in the 1st quarter, Holdings Channel reports. The fund owned 8,838 shares of the technology infrastructure company’s stock after selling 951 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Akamai Technologies were worth $961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New England Research & Management Inc. acquired a new position in shares of Akamai Technologies in the 1st quarter valued at about $769,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Akamai Technologies by 28.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company’s stock valued at $580,000 after buying an additional 1,176 shares during the period. Ballentine Partners LLC boosted its stake in shares of Akamai Technologies by 17.0% during the 1st quarter. Ballentine Partners LLC now owns 2,509 shares of the technology infrastructure company’s stock valued at $273,000 after buying an additional 365 shares during the period. Banque Cantonale Vaudoise grew its holdings in shares of Akamai Technologies by 42.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 36,022 shares of the technology infrastructure company’s stock valued at $3,918,000 after acquiring an additional 10,762 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Akamai Technologies by 0.5% in the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock worth $2,886,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America reduced their price objective on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Raymond James lowered their price target on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Craig Hallum decreased their target price on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, May 10th. StockNews.com lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Morgan Stanley lowered their target price on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $114.00.

Akamai Technologies Stock Down 0.6 %

NASDAQ AKAM opened at $89.53 on Tuesday. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The stock has a market cap of $13.64 billion, a PE ratio of 22.27, a PEG ratio of 4.32 and a beta of 0.67. The firm has a 50-day simple moving average of $93.89 and a 200 day simple moving average of $106.77. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its board has initiated a share repurchase plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology infrastructure company to reacquire up to 13.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the sale, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the sale, the director now owns 14,519 shares of the company’s stock, valued at approximately $1,358,107.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction 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 of the company’s stock, valued at $929,998.04. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock worth $826,460 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.