Summit Trail Advisors LLC Lowers Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Summit Trail Advisors LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,534 shares of the technology infrastructure company’s stock after selling 522 shares during the period. Summit Trail Advisors LLC’s holdings in Akamai Technologies were worth $228,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Akamai Technologies by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after buying an additional 118 shares in the last quarter. Garrison Asset Management LLC lifted its holdings in Akamai Technologies by 0.6% during the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after purchasing an additional 120 shares in the last quarter. Czech National Bank lifted its holdings in Akamai Technologies by 0.5% during the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after purchasing an additional 121 shares in the last quarter. Wahed Invest LLC lifted its holdings in Akamai Technologies by 5.0% during the fourth quarter. Wahed Invest LLC now owns 2,547 shares of the technology infrastructure company’s stock valued at $301,000 after purchasing an additional 122 shares in the last quarter. Finally, X Square Capital LLC lifted its holdings in Akamai Technologies by 4.9% during the second quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock valued at $237,000 after purchasing an additional 122 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 1.1 %

NASDAQ AKAM opened at $101.84 on Wednesday. The firm has a 50 day simple moving average of $98.28 and a 200-day simple moving average of $98.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.10 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating 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 analyst estimates of $977.67 million. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $741,655 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Monday, July 29th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Scotiabank increased their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $116.47.

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.