EverSource Wealth Advisors LLC Has $36,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

EverSource Wealth Advisors LLC cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 96.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 379 shares of the technology infrastructure company’s stock after selling 11,914 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Akamai Technologies were worth $36,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the fourth quarter worth approximately $57,000. Jones Financial Companies Lllp raised its stake in Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after buying an additional 656 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Akamai Technologies by 24.2% in 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. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $81.55 on Friday. The company’s 50 day simple moving average is $90.74 and its 200 day simple moving average is $95.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

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

Insider Activity at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 37,670 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 6,431 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the sale, the chief operating officer now owns 14,239 shares in the company, valued at $1,146,097.11. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 in the last quarter. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. TD Cowen cut Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $125.00 to $98.00 in a research note on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Finally, Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $106.55.

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.