Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,529 shares of the technology infrastructure company’s stock after selling 230 shares during the quarter. Hartford Investment Management Co.’s holdings in Akamai Technologies were worth $962,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in shares of Akamai Technologies by 19.6% in the first 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 last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Akamai Technologies by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock worth $23,038,000 after acquiring an additional 28,304 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Akamai Technologies by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock worth $20,132,000 after acquiring an additional 27,484 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Akamai Technologies in the first quarter valued at $1,093,000. Finally, Quadrature Capital Ltd acquired a new position in Akamai Technologies in the first quarter valued at $2,610,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s 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 owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

AKAM stock opened at $101.97 on Friday. 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, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17. The firm has a market cap of $15.53 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The stock has a 50-day simple moving average of $100.99 and a 200-day simple moving average of $97.36.

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

Analyst Ratings Changes

Several equities analysts recently commented on AKAM shares. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, July 29th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen upped their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $116.47.

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.