Diversified Trust Co Sells 2,889 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Diversified Trust Co lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 37.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,781 shares of the technology infrastructure company’s stock after selling 2,889 shares during the period. Diversified Trust Co’s holdings in Akamai Technologies were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its holdings in Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares during the period. Norges Bank purchased a new stake in shares of Akamai Technologies in the fourth quarter worth $477,454,000. Mackenzie Financial Corp boosted its stake in Akamai Technologies by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after buying an additional 81,744 shares during the period. Earnest Partners LLC boosted its stake in Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock valued at $211,935,000 after buying an additional 58,013 shares during the period. Finally, Northern Trust Corp grew its position in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock worth $178,085,000 after buying an additional 163,472 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer owned 10,809 shares of the company’s stock, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AKAM. Scotiabank lowered their price target on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. KeyCorp initiated coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an “underweight” rating and a $63.00 target price on the stock. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price for the company. Morgan Stanley decreased their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler restated a “neutral” rating and set a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.25.

Akamai Technologies Trading Up 0.2%

NASDAQ AKAM opened at $79.76 on Tuesday. The firm has a market cap of $11.66 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The stock has a 50-day moving average of $78.53 and a 200-day moving average of $84.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 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.