Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 43.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,296 shares of the technology infrastructure company’s stock after selling 2,556 shares during the period. Atlas Capital Advisors LLC’s holdings in Akamai Technologies were worth $358,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Akamai Technologies in the fourth quarter worth about $325,242,000. Jericho Capital Asset Management L.P. acquired a new position in Akamai Technologies in the third quarter worth approximately $218,201,000. Earnest Partners LLC increased its holdings in shares of Akamai Technologies by 4.8% in the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock valued at $190,981,000 after buying an additional 82,364 shares in the last quarter. FIL Ltd increased its holdings in shares of 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 buying an additional 186,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Akamai Technologies by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,339,978 shares of the technology infrastructure company’s stock worth $158,596,000 after acquiring an additional 146,778 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Susquehanna cut their target price on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. Raymond James reduced their price target on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. TD Cowen lowered their price objective on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada reduced their price objective on Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating for the company in a research note on Friday, May 10th. Finally, KeyCorp lowered their price target on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has an average rating of “Hold” and an average price target of $114.00.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $89.94 on Friday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 22.37, a P/E/G ratio of 4.23 and a beta of 0.68. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The business has a 50-day moving average price of $94.34 and a two-hundred day moving average price of $107.27.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 earnings per share. Equities analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO F Thomson Leighton purchased 22,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Akamai Technologies news, CEO F Thomson Leighton bought 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the acquisition, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the transaction, the director now owns 14,519 shares in the company, valued at $1,358,107.26. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $826,460 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.