Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by First Hawaiian Bank

First Hawaiian Bank trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,696 shares of the technology infrastructure company’s stock after selling 1,434 shares during the period. First Hawaiian Bank’s holdings in Akamai Technologies were worth $963,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after acquiring an additional 97 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Akamai Technologies by 25.9% in the fourth quarter. Global Retirement Partners LLC now owns 748 shares of the technology infrastructure company’s stock valued at $89,000 after buying an additional 154 shares in the last quarter. TIAA Trust National Association purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $201,000. UMB Bank n.a. lifted its position in Akamai Technologies by 144.3% during the 4th quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock worth $67,000 after acquiring an additional 332 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Akamai Technologies by 0.4% in the fourth quarter. Arizona State Retirement System now owns 41,697 shares of the technology infrastructure company’s stock valued at $4,935,000 after acquiring an additional 173 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AKAM has been the subject of several analyst reports. Susquehanna decreased their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 10th. Bank of America decreased their price objective on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. KeyCorp dropped their target price on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Robert W. Baird lowered their price objective on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, Citigroup cut their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.44.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the transaction, the chief technology officer now directly owns 24,729 shares in the company, valued at $2,184,559.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the sale, the director now owns 14,519 shares in the company, valued at approximately $1,358,107.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,000 shares of company stock valued at $826,460. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Up 2.6 %

NASDAQ:AKAM traded up $2.38 during mid-day trading on Tuesday, reaching $93.70. The stock had a trading volume of 894,995 shares, compared to its average volume of 1,649,953. The business’s 50 day moving average is $92.22 and its 200 day moving average is $102.67. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The stock has a market cap of $14.27 billion, a P/E ratio of 22.72, a PEG ratio of 4.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its board has approved a share repurchase program on Thursday, May 9th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.