Schroder Investment Management Group Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Schroder Investment Management Group trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 100.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,337 shares of the technology infrastructure company’s stock after selling 27,877,026 shares during the period. Schroder Investment Management Group’s holdings in Akamai Technologies were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AKAM. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies in the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC increased its holdings in shares of 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 purchasing an additional 155 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $57,000. TCTC Holdings LLC raised its stake 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 last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after purchasing an additional 656 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Down 3.7 %

Shares of NASDAQ AKAM opened at $70.93 on Tuesday. The firm’s 50-day moving average is $87.53 and its two-hundred day moving average is $93.81. The company has a market capitalization of $10.66 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a 12-month low of $69.50 and a 12-month high of $107.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last posted 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). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. Susquehanna lowered their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Scotiabank cut their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. Finally, Citigroup decreased their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.55.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares in the company, valued at $1,146,097.11. This represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.