Marshall Wace LLP Sells 9,021 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Marshall Wace LLP trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 210,594 shares of the technology infrastructure company’s stock after selling 9,021 shares during the quarter. Marshall Wace LLP’s holdings in Akamai Technologies were worth $18,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKAM. Dimensional Fund Advisors LP raised its position in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after purchasing an additional 222,290 shares during the period. Intech Investment Management LLC lifted its stake in Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares during the last quarter. FIL Ltd lifted its stake in Akamai Technologies by 14.5% in the fourth quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock valued at $174,248,000 after purchasing an additional 186,124 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were 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 approximately $2,216,186.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 in the last quarter. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $101.57 on Friday. The stock’s 50-day simple moving average is $98.55 and its two-hundred day simple moving average is $98.10. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The firm has a market capitalization of $15.39 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.23 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. Akamai Technologies’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. TD Cowen upped their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Wednesday, July 24th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.47.

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.