Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.9% during the third quarter, Holdings Channel reports. The firm owned 10,852 shares of the technology infrastructure company’s stock after selling 1,190 shares during the period. Mediolanum International Funds Ltd’s holdings in Akamai Technologies were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares during the period. Champlain Investment Partners LLC increased its position in Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares during the period. Intech Investment Management LLC increased its position in Akamai Technologies by 409.2% in the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after acquiring an additional 199,334 shares during the period. Empyrean Capital Partners LP acquired a new stake in Akamai Technologies in the 2nd quarter valued at approximately $15,314,000. Finally, Renaissance Technologies LLC increased its position in Akamai Technologies by 33.3% in the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after acquiring an additional 162,700 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on 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 sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares in the company, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AKAM. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research report on Wednesday, July 24th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $125.00 in a research note on Friday, August 9th. TD Cowen increased their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $101.97 on Monday. The stock has a market cap of $15.53 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The business has a fifty day simple moving average of $100.99 and a 200-day simple moving average of $97.23. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

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

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.