Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Position Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 504,730 shares of the technology infrastructure company’s stock after selling 117,506 shares during the period. Hsbc Holdings PLC owned 0.33% of Akamai Technologies worth $45,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AKAM. Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $156,088,000 after acquiring an additional 347,626 shares during the period. Champlain Investment Partners LLC grew 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 worth $147,308,000 after purchasing an additional 222,290 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Akamai Technologies by 409.2% during the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after buying an additional 199,334 shares during the last quarter. FIL Ltd raised its holdings in shares of Akamai Technologies by 14.5% during the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after buying an additional 186,124 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings 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 worth $58,678,000 after buying an additional 162,700 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AKAM shares. Scotiabank lifted their target price on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Monday, July 29th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Stock Performance

Shares of AKAM opened at $99.52 on Friday. The company has a 50-day moving average of $98.02 and a two-hundred day moving average of $98.52. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted 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. The firm had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the 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 completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 $2,216,186.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction 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 directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $741,655 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.