Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 47.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510 shares of the technology infrastructure company’s stock after selling 453 shares during the period. Park Place Capital Corp’s holdings in Akamai Technologies were worth $55,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Planned Solutions Inc. purchased a new position in Akamai Technologies during the 4th quarter worth $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies during the 4th quarter worth $43,000. Bruce G. Allen Investments LLC purchased a new position in Akamai Technologies during the 4th quarter worth $44,000. Headinvest LLC purchased a new position in Akamai Technologies during the 3rd quarter worth $40,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after purchasing an additional 125 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 analysts have recently issued reports on AKAM shares. Royal Bank of Canada cut their price target on shares of Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. TD Cowen cut their price target on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a report on Friday, May 10th. StockNews.com downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Craig Hallum cut their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Morgan Stanley cut their price target on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $114.00.

Akamai Technologies Trading Down 0.6 %

NASDAQ AKAM opened at $89.53 on Tuesday. The stock has a market cap of $13.64 billion, a P/E ratio of 22.27, a PEG ratio of 4.32 and a beta of 0.67. The company’s fifty day simple moving average is $93.89 and its 200-day simple moving average is $106.77. 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 52 week low of $87.59 and a 52 week high of $129.17.

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

Akamai Technologies declared that its board has approved a stock repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the sale, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the transaction, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton purchased 22,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the transaction, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. Insiders sold a total of 9,000 shares of company stock worth $826,460 over the last 90 days. Insiders own 2.00% of the company’s stock.

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.