Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Whittier Trust Co.

Whittier Trust Co. reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 764 shares of the technology infrastructure company’s stock after selling 240 shares during the quarter. Whittier Trust Co.’s holdings in Akamai Technologies were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after buying an additional 88,732 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after buying an additional 74,373 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Raymond James reduced their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. UBS Group began coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Finally, Evercore ISI restated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $82.77 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $90.45 and its 200 day moving average price is $95.09. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The firm has a market cap of $12.44 billion, a P/E ratio of 25.39, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.