Mount Yale Investment Advisors LLC Sells 3,503 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Mount Yale Investment Advisors LLC lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,962 shares of the technology infrastructure company’s stock after selling 3,503 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Akamai Technologies were worth $1,078,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC purchased a new position in Akamai Technologies during the 2nd quarter valued at $28,000. EntryPoint Capital LLC bought a new position in Akamai Technologies in the 1st quarter valued at $31,000. Family Firm Inc. purchased a new stake in Akamai Technologies in the second quarter worth $35,000. Finally, Covestor Ltd lifted its position in shares of Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 310 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. DA Davidson restated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Finally, Scotiabank raised their price objective on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $99.51 on Monday. The company has a market capitalization of $15.16 billion, a PE ratio of 24.75, a P/E/G ratio of 3.10 and a beta of 0.68. The company has a 50-day simple moving average of $98.11 and a two-hundred day simple moving average of $98.28. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last posted 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 firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. Akamai Technologies’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. Research analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

About Akamai Technologies

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.