Asset Management One Co. Ltd. Sells 780 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Asset Management One Co. Ltd. decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,627 shares of the technology infrastructure company’s stock after selling 780 shares during the period. Asset Management One Co. Ltd.’s holdings in Akamai Technologies were worth $5,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc lifted its stake in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $28,000. Finally, Family Firm Inc. bought a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the 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 sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,500 shares of company stock valued at $741,655. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 14.4 %

AKAM stock opened at $89.37 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 3.21 and a beta of 0.68. The business’s fifty day moving average price is $100.87 and its two-hundred day moving average price is $97.23.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping 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 business 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 earned $1.01 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent research reports. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. HSBC raised 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. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. 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. Finally, Scotiabank lowered their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.29.

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.