Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 122,707 shares of the technology infrastructure company’s stock after selling 3,800 shares during the period. Leeward Investments LLC MA’s holdings in Akamai Technologies were worth $11,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AKAM. Geode Capital Management LLC boosted its position in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the period. Retirement Systems of Alabama boosted its position in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after purchasing an additional 139,760 shares during the period. Nordea Investment Management AB raised its stake in 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 valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Akamai Technologies during the 3rd quarter valued at approximately $13,313,000. Finally, Invenomic Capital Management LP raised its stake in Akamai Technologies by 252.2% during the 3rd quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock valued at $17,766,000 after acquiring an additional 126,021 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on AKAM. Royal Bank of Canada reduced their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Monday, November 11th. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday. Finally, Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $100.00 in a research note on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Performance

AKAM opened at $76.73 on Friday. The stock has a market cap of $11.53 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $96.15 and its 200 day simple moving average is $97.90. Akamai Technologies, Inc. has a 1-year low of $76.50 and a 1-year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock worth $1,523,951 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.