Amalgamated Bank Has $2.78 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Amalgamated Bank lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,850 shares of the technology infrastructure company’s stock after selling 426 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $2,779,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AKAM. Versant Capital Management Inc increased its position in shares of Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the period. Innealta Capital LLC bought a new position in Akamai Technologies in the 2nd quarter valued at about $28,000. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies in the 1st quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at approximately $35,000. Finally, Covestor Ltd lifted its holdings in shares of Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 310 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $741,655 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AKAM. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. TD Cowen raised their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.47.

Akamai Technologies Trading Up 1.2 %

AKAM opened at $100.72 on Tuesday. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a fifty day moving average of $98.20 and a 200-day moving average of $98.20. The stock has a market cap of $15.34 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same period last year, the company posted $1.01 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.42 EPS 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.