The Manufacturers Life Insurance Company Sells 7,490 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

The Manufacturers Life Insurance Company lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,528 shares of the technology infrastructure company’s stock after selling 7,490 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Akamai Technologies worth $8,785,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after acquiring an additional 6,724 shares during the period. Cibc World Markets Corp raised its stake in shares of Akamai Technologies by 131.6% in the fourth quarter. Cibc World Markets Corp now owns 19,433 shares of the technology infrastructure company’s stock valued at $2,300,000 after purchasing an additional 11,044 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Akamai Technologies by 3.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock worth $56,915,000 after buying an additional 15,890 shares in the last quarter. TKG Advisors LLC acquired a new stake in Akamai Technologies during the fourth quarter worth $3,245,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Akamai Technologies by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after buying an additional 28,304 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AKAM. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $125.00 in a research report on Friday, August 9th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 24th. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler cut their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.47.

Insider Buying and Selling at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Up 1.0 %

NASDAQ:AKAM opened at $101.48 on Friday. The stock’s fifty day moving average price is $98.91 and its two-hundred day moving average price is $97.86. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.23 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

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.