Amalgamated Bank Sells 781 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Amalgamated Bank reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,941 shares of the technology infrastructure company’s stock after selling 781 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $2,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares during the period. Nordea Investment Management AB boosted its position in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Akamai Technologies in the third quarter valued at approximately $13,313,000. Finally, Invenomic Capital Management LP raised its position in Akamai Technologies by 252.2% during the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock valued at $17,766,000 after purchasing an additional 126,021 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $80.68 on Friday. The company has a market capitalization of $12.13 billion, a PE ratio of 24.75, a P/E/G ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The company has a 50 day simple moving average of $94.44 and a two-hundred day simple moving average of $97.25.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research note on Friday, February 21st. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Finally, Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

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.