Davis R M Inc. Trims Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Davis R M Inc. lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 33.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,625 shares of the technology infrastructure company’s stock after selling 6,954 shares during the quarter. Davis R M Inc.’s holdings in Akamai Technologies were worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AKAM. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $43,000. Covestor Ltd raised its position in shares of Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 310 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after acquiring an additional 125 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Akamai Technologies by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 129 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 22,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Akamai Technologies news, CEO F Thomson Leighton acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now owns 2,342,621 shares in the company, valued at $217,114,114.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at approximately $929,998.04. The disclosure for this sale can be found here. Insiders sold a total of 9,000 shares of company stock valued at $826,460 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.0 %

AKAM stock traded down $0.02 during trading on Tuesday, hitting $96.31. The company had a trading volume of 365,850 shares, compared to its average volume of 1,673,705. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The company has a 50 day simple moving average of $91.99 and a 200-day simple moving average of $104.16. The firm has a market capitalization of $14.67 billion, a P/E ratio of 23.94, a PEG ratio of 4.55 and a beta of 0.67. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies declared that its board has approved a stock repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America dropped their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. TD Cowen reduced their target price on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a report on Friday, May 10th. Royal Bank of Canada decreased their price target on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Friday, May 10th. Piper Sandler cut their price objective on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Craig Hallum decreased their target price on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.65.

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.