Profund Advisors LLC Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Profund Advisors LLC lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 28.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,662 shares of the technology infrastructure company’s stock after selling 4,524 shares during the quarter. Profund Advisors LLC’s holdings in Akamai Technologies were worth $1,051,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. AE Wealth Management LLC grew its holdings in Akamai Technologies by 20.1% during the second quarter. AE Wealth Management LLC now owns 24,474 shares of the technology infrastructure company’s stock worth $2,205,000 after acquiring an additional 4,092 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Akamai Technologies by 2.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock valued at $473,000 after purchasing an additional 118 shares during the last quarter. Palouse Capital Management Inc. increased its position in Akamai Technologies by 16.8% during the second quarter. Palouse Capital Management Inc. now owns 12,729 shares of the technology infrastructure company’s stock worth $1,147,000 after buying an additional 1,834 shares in the last quarter. Westport Asset Management Inc. raised its stake in Akamai Technologies by 66.7% in the 2nd quarter. Westport Asset Management Inc. now owns 25,000 shares of the technology infrastructure company’s stock valued at $2,252,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in shares of Akamai Technologies by 0.9% in the second quarter. Elo Mutual Pension Insurance Co now owns 13,904 shares of the technology infrastructure company’s stock valued at $1,252,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies 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 transaction, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AKAM shares. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Scotiabank raised their price objective on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. TD Cowen raised their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Piper Sandler reduced their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $100.72 on Tuesday. The stock has a market cap of $15.34 billion, a P/E ratio of 25.05, a P/E/G 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. The firm’s 50-day simple moving average is $98.20 and its 200 day simple moving average is $98.20. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

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 analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Akamai Technologies, Inc. will post 4.42 EPS 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.