O Shaughnessy Asset Management LLC Lowers Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

O Shaughnessy Asset Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,016 shares of the technology infrastructure company’s stock after selling 2,351 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Akamai Technologies were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Centiva Capital LP purchased a new stake in shares of Akamai Technologies during the third quarter worth approximately $325,000. Quantinno Capital Management LP raised its position in Akamai Technologies by 20.9% during the 3rd quarter. Quantinno Capital Management LP now owns 18,893 shares of the technology infrastructure company’s stock worth $1,907,000 after buying an additional 3,264 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Akamai Technologies by 26.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 10,983 shares of the technology infrastructure company’s stock worth $1,109,000 after acquiring an additional 2,278 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of Akamai Technologies by 12.2% in the third quarter. iA Global Asset Management Inc. now owns 3,145 shares of the technology infrastructure company’s stock valued at $317,000 after acquiring an additional 341 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Akamai Technologies by 83.1% during the third quarter. National Bank of Canada FI now owns 77,443 shares of the technology infrastructure company’s stock worth $7,818,000 after acquiring an additional 35,142 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AKAM. Oppenheimer initiated coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Piper Sandler decreased their target price on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Susquehanna lowered their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.55.

Akamai Technologies Stock Down 3.8 %

AKAM opened at $68.21 on Wednesday. The business’s fifty day simple moving average is $86.24 and its 200 day simple moving average is $93.42. Akamai Technologies, Inc. has a 52 week low of $67.05 and a 52 week high of $107.60. The firm has a market cap of $10.25 billion, a P/E ratio of 20.92, a PEG ratio of 2.74 and a beta of 0.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS 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.