Grantham Mayo Van Otterloo & Co. LLC Sells 164,760 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 57.7% in the 4th quarter, HoldingsChannel reports. The firm owned 120,950 shares of the technology infrastructure company’s stock after selling 164,760 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Akamai Technologies were worth $11,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AKAM. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies in the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $57,000. TCTC Holdings LLC raised its position in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of Akamai Technologies by 200.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock worth $68,000 after purchasing an additional 472 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of several research reports. Raymond James lowered their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Scotiabank dropped 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 report on Friday, February 21st. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Piper Sandler downgraded 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Trading Down 6.5 %

Shares of AKAM stock opened at $73.69 on Monday. 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 firm has a market cap of $11.08 billion, a P/E ratio of 22.60, a PEG ratio of 2.74 and a beta of 0.80. The company has a 50 day moving average of $88.11 and a 200-day moving average of $94.01. Akamai Technologies, Inc. has a 12-month low of $69.48 and a 12-month high of $107.60.

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

Insider Buying and Selling

In other Akamai Technologies news, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is owned by insiders.

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.