Akamai Technologies, Inc. (NASDAQ:AKAM) Holdings Trimmed by EP Wealth Advisors LLC

EP Wealth Advisors LLC trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,705 shares of the technology infrastructure company’s stock after selling 1,344 shares during the period. EP Wealth Advisors LLC’s holdings in Akamai Technologies were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKAM. Versant Capital Management Inc boosted its stake in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter valued at $28,000. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter valued at $31,000. Family Firm Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter valued at $35,000. Finally, Covestor Ltd boosted its stake in shares of Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 310 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s 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 transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 value of $389,200.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $100.78 on Thursday. The company has a market capitalization of $15.35 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $87.59 and a one year 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 company’s fifty day moving average price is $98.83 and its 200 day moving average price is $97.85.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) 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 company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on AKAM. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen lifted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.47.

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.