Metis Global Partners LLC Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Metis Global Partners LLC decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,030 shares of the technology infrastructure company’s stock after selling 710 shares during the quarter. Metis Global Partners LLC’s holdings in Akamai Technologies were worth $832,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jericho Capital Asset Management L.P. bought a new position in shares of Akamai Technologies in the third quarter worth $218,201,000. Northern Trust Corp grew its holdings in Akamai Technologies by 3.0% during the 3rd quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock valued at $204,788,000 after buying an additional 56,782 shares in the last quarter. Earnest Partners LLC increased its position in shares of Akamai Technologies by 4.8% during the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after buying an additional 82,364 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Akamai Technologies by 22.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock valued at $134,923,000 after buying an additional 228,200 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Akamai Technologies by 23.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 912,409 shares of the technology infrastructure company’s stock worth $107,984,000 after buying an additional 176,173 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Anthony P. Williams sold 3,510 shares of the company’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 sale, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 14,349 shares of the business’s 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 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. In the last ninety days, insiders sold 30,753 shares of company stock valued at $3,368,303. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Akamai Technologies Stock Up 0.3 %

Shares of NASDAQ:AKAM opened at $102.46 on Friday. Akamai Technologies, Inc. has a 1 year low of $83.12 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s 50-day moving average is $105.68 and its 200 day moving average is $111.90. The company has a market cap of $15.53 billion, a PE ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). The business had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. Akamai Technologies’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

Akamai Technologies Company 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.