Bay Colony Advisory Group Inc d b a Bay Colony Advisors Decreases Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,525 shares of the technology infrastructure company’s stock after selling 150 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Akamai Technologies were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AKAM. International Assets Investment Management LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $41,880,000. Louisiana State Employees Retirement System bought a new position in Akamai Technologies in the 4th quarter worth $1,077,000. SVB Wealth LLC bought a new position in Akamai Technologies in the 4th quarter worth $233,000. Greenleaf Trust lifted its position in shares of Akamai Technologies by 10.2% in the 4th quarter. Greenleaf Trust now owns 2,457 shares of the technology infrastructure company’s stock worth $291,000 after purchasing an additional 228 shares during the period. Finally, abrdn plc boosted its stake in shares of Akamai Technologies by 55.7% during the 4th quarter. abrdn plc now owns 63,683 shares of the technology infrastructure company’s stock valued at $7,537,000 after purchasing an additional 22,774 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies 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 transaction, the director now owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the transaction, the director now directly owns 14,519 shares of the company’s stock, valued at approximately $1,358,107.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $610,285 in the last three months. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 0.2 %

Shares of Akamai Technologies stock traded down $0.23 on Friday, reaching $101.35. The company’s stock had a trading volume of 342,991 shares, compared to its average volume of 1,685,294. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The firm’s fifty day simple moving average is $94.46 and its two-hundred day simple moving average is $100.75. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 4.57 and a beta of 0.67.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology infrastructure company to buy up to 13.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on AKAM shares. Susquehanna lowered their price objective on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. Bank of America decreased their price objective on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

About Akamai Technologies

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.