Cerity Partners LLC Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cerity Partners LLC decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 68.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,205 shares of the technology infrastructure company’s stock after selling 40,974 shares during the quarter. Cerity Partners LLC’s holdings in Akamai Technologies were worth $1,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies during the 4th quarter worth about $57,000. TCTC Holdings LLC boosted its position in shares of Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after acquiring an additional 102 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in Akamai Technologies by 200.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company’s stock valued at $68,000 after purchasing an additional 472 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton purchased 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Edward J. Mcgowan sold 4,652 shares of the 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 owns 34,510 shares of the company’s stock, valued at $2,984,424.80. This trade represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,394 shares of company stock valued at $2,653,043 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $73.81 on Thursday. The stock has a market capitalization of $10.78 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. The business’s fifty day moving average price is $82.69 and its 200 day moving average price is $92.25. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. 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 announced its quarterly 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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. Citigroup reduced their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Scotiabank dropped their price target 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. Oppenheimer assumed coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned 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 $104.75.

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.