Bryn Mawr Capital Management LLC Lowers Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bryn Mawr Capital Management LLC trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,752 shares of the technology infrastructure company’s stock after selling 382 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Akamai Technologies were worth $741,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AKAM. Private Advisor Group LLC lifted its holdings in shares of Akamai Technologies by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after buying an additional 477 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Akamai Technologies by 12.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,201 shares of the technology infrastructure company’s stock worth $1,950,000 after buying an additional 2,084 shares during the period. Forsta AP Fonden lifted its holdings in shares of Akamai Technologies by 13.6% in the 3rd quarter. Forsta AP Fonden now owns 31,700 shares of the technology infrastructure company’s stock worth $3,200,000 after buying an additional 3,800 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Akamai Technologies by 85.7% in the 3rd 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. Finally, Van ECK Associates Corp lifted its stake in shares of Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after purchasing an additional 105 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AKAM has been the subject of a number of analyst reports. Royal Bank of Canada decreased 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, February 21st. JPMorgan Chase & Co. decreased their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Susquehanna decreased their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value 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. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Up 2.0 %

Akamai Technologies stock opened at $79.58 on Thursday. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The business’s 50-day moving average price is $95.08 and its 200 day moving average price is $97.55. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company 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, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.