Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 91.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 587 shares of the technology infrastructure company’s stock after selling 6,003 shares during the quarter. Federated Hermes Inc.’s holdings in Akamai Technologies were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth $44,000. Headinvest LLC purchased a new position in shares of Akamai Technologies in the 3rd quarter worth $40,000. Finally, UMB Bank n.a. boosted its holdings in Akamai Technologies by 144.3% in the fourth quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock valued at $67,000 after acquiring an additional 332 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock valued at $3,368,303 in the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AKAM shares. Citigroup dropped their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.60.

Akamai Technologies Stock Up 1.4 %

Shares of Akamai Technologies stock opened at $101.08 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $106.23 and a 200 day moving average price of $112.09. Akamai Technologies, Inc. has a fifty-two week low of $78.35 and a fifty-two week high of $129.17. The firm has a market cap of $15.32 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same period in the prior year, the company posted $1.01 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Akamai Technologies Profile

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.