CIBC Private Wealth Group LLC Sells 387 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

CIBC Private Wealth Group LLC trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,075 shares of the technology infrastructure company’s stock after selling 387 shares during the period. CIBC Private Wealth Group LLC’s holdings in Akamai Technologies were worth $194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. TCTC Holdings LLC lifted its stake in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after acquiring an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after purchasing an additional 116 shares in the last quarter. Delta Capital Management LLC boosted its holdings in Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after purchasing an additional 120 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in Akamai Technologies by 0.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock valued at $2,879,000 after purchasing an additional 140 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 6.5 %

AKAM stock opened at $73.69 on Monday. Akamai Technologies, Inc. has a 52 week low of $73.42 and a 52 week high of $107.60. The company has a market capitalization of $11.08 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The company’s 50-day simple moving average is $88.11 and its 200 day simple moving average is $94.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

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

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO F Thomson Leighton bought 37,670 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AKAM shares. Raymond James cut their price target 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. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price target for the company. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.55.

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.