Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by ORG Partners LLC

ORG Partners LLC lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the technology infrastructure company’s stock after selling 100 shares during the quarter. ORG Partners LLC’s holdings in Akamai Technologies were worth $61,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Akamai Technologies during the second quarter valued at approximately $28,000. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies during the first quarter worth $31,000. Family Firm Inc. purchased a new position in shares of Akamai Technologies in the second quarter valued at $35,000. Finally, Covestor Ltd grew its holdings in 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 purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, 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 value of $251,725.00. Following the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,500 shares of company stock worth $741,655. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AKAM. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research note on Wednesday, July 24th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Trading Up 0.3 %

NASDAQ:AKAM opened at $103.58 on Thursday. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month 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 business has a 50 day simple moving average of $100.28 and a 200 day simple moving average of $97.42. The firm has a market capitalization of $15.78 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.31 and a beta of 0.68.

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

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.