Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,034 shares of the technology infrastructure company’s stock after selling 740 shares during the period. Carret Asset Management LLC’s holdings in Akamai Technologies were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empirical Finance LLC grew its stake in Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the period. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the period. D.A. Davidson & CO. grew its stake in Akamai Technologies by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after buying an additional 115 shares during the period. Koshinski Asset Management Inc. grew its stake in Akamai Technologies by 1.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after buying an additional 116 shares during the period. Finally, Delta Capital Management LLC grew its stake in Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 2.6 %

NASDAQ AKAM opened at $80.73 on Friday. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.18. The company’s fifty day moving average price is $91.62 and its two-hundred day moving average price is $95.95. 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 issued 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, CEO F Thomson Leighton bought 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, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,176 shares of company stock valued at $4,083,614. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AKAM shares. Raymond James decreased their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Scotiabank decreased their target price on shares of 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. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.55.

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.