Capitolis Liquid Global Markets LLC Sells 106,500 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Capitolis Liquid Global Markets LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 96.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,800 shares of the technology infrastructure company’s stock after selling 106,500 shares during the period. Capitolis Liquid Global Markets LLC’s holdings in Akamai Technologies were worth $413,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AKAM. Raymond James Financial Services Advisors Inc. boosted its holdings in Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after buying an additional 97 shares during the period. Manchester Capital Management LLC increased its position in shares of Akamai Technologies by 6.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after acquiring an additional 97 shares during the period. ORG Partners LLC increased its holdings in Akamai Technologies by 16.7% during the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA grew its holdings in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Akamai Technologies by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after buying an additional 108 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity at Akamai Technologies

In related news, CEO F Thomson Leighton bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the acquisition, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total value of $93,540.00. Following the transaction, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton bought 22,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of 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 disclosure for this purchase can be found here. In the last three months, insiders have sold 9,000 shares of company stock worth $826,460. 1.80% of the stock is owned by company insiders.

Akamai Technologies Price Performance

NASDAQ:AKAM traded down $0.84 during trading hours on Wednesday, hitting $95.22. The company’s stock had a trading volume of 1,280,168 shares, compared to its average volume of 1,675,129. The stock has a fifty day simple moving average of $92.04 and a 200-day simple moving average of $103.97. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a market capitalization of $14.50 billion, a P/E ratio of 23.69, a PEG ratio of 4.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

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

Akamai Technologies announced that its board has approved a share buyback plan on Thursday, May 9th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Scotiabank initiated coverage on shares of Akamai Technologies in a research note on Monday, July 8th. They set a “sector outperform” rating and a $110.00 price objective for the company. KeyCorp reduced their price objective on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Piper Sandler lowered their price objective on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley lowered their target price on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Finally, Craig Hallum reduced their price objective on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.65.

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.