Global Retirement Partners LLC Sells 152 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Global Retirement Partners LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 26.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 425 shares of the technology infrastructure company’s stock after selling 152 shares during the period. Global Retirement Partners LLC’s holdings in Akamai Technologies were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AKAM. Farther Finance Advisors LLC grew its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Principal Securities Inc. raised its position in shares of Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after buying an additional 174 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Akamai Technologies in the third quarter worth $102,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

Shares of AKAM opened at $80.68 on Friday. The stock has a market capitalization of $12.13 billion, a PE ratio of 24.75, a PEG ratio of 2.74 and a beta of 0.65. The company has a 50 day moving average price of $94.44 and a 200-day moving average price of $97.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Robert W. Baird dropped their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Finally, Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $100.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Activity

In other Akamai Technologies news, CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Company 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.