Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 225,127 shares of the technology infrastructure company’s stock after selling 22,918 shares during the quarter. Intech Investment Management LLC owned 0.15% of Akamai Technologies worth $20,279,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares during the period. Innealta Capital LLC acquired a new stake in Akamai Technologies in the 2nd quarter valued at $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at $31,000. Family Firm Inc. acquired a new stake in Akamai Technologies in the 2nd quarter valued at $35,000. Finally, Covestor Ltd grew its stake in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction 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 $1,684,104.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $741,655 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of several recent research reports. Piper Sandler lowered their target price on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. 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. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Stock Up 2.1 %

Shares of AKAM opened at $99.44 on Friday. The firm has a market cap of $15.15 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The company’s 50-day moving average price is $97.91 and its 200 day moving average price is $98.51. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $979.60 million for 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 period in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

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.