Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,606 shares of the technology infrastructure company’s stock after selling 260 shares during the period. Diversified Trust Co’s holdings in Akamai Technologies were worth $718,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter worth approximately $37,000. Headinvest LLC acquired a new stake in Akamai Technologies during the 3rd quarter worth $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $44,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AKAM. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. Susquehanna cut their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 10th. TD Cowen lowered their price objective on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Robert W. Baird dropped their target price on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Citigroup reduced their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $114.00.

Akamai Technologies Trading Up 1.4 %

Shares of NASDAQ AKAM opened at $90.82 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $13.83 billion, a PE ratio of 22.59, a PEG ratio of 4.32 and a beta of 0.67. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The stock has a fifty day simple moving average of $93.67 and a 200-day simple moving average of $106.57.

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

Akamai Technologies declared that its Board of Directors has approved a share 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 usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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