Pine Valley Investments Ltd Liability Co Sells 950 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Pine Valley Investments Ltd Liability Co reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,627 shares of the technology infrastructure company’s stock after selling 950 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Akamai Technologies were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AKAM. Private Advisor Group LLC lifted its holdings in shares of Akamai Technologies by 8.0% in the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after buying an additional 477 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Akamai Technologies in the third quarter worth $30,470,000. Ballentine Partners LLC purchased a new position in shares of Akamai Technologies in the third quarter worth $311,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Akamai Technologies by 12.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,201 shares of the technology infrastructure company’s stock worth $1,950,000 after buying an additional 2,084 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Akamai Technologies by 13.6% in the third quarter. Forsta AP Fonden now owns 31,700 shares of the technology infrastructure company’s stock worth $3,200,000 after buying an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.5 %

NASDAQ AKAM opened at $78.05 on Wednesday. The company’s 50-day moving average price is $95.37 and its 200-day moving average price is $97.67. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11.73 billion, a PE ratio of 23.94, a PEG ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $113.36.

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

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AKAM. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Raymond James decreased their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Finally, TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $98.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.55.

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.