Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 19.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,215 shares of the technology infrastructure company’s stock after selling 3,413 shares during the quarter. Y.D. More Investments Ltd’s holdings in Akamai Technologies were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Qsemble Capital Management LP bought a new stake in Akamai Technologies during the second quarter valued at $793,000. Royal London Asset Management Ltd. grew its position in shares of Akamai Technologies by 2.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 60,158 shares of the technology infrastructure company’s stock valued at $5,419,000 after buying an additional 1,244 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its stake in Akamai Technologies by 4.9% during the second quarter. Clifford Swan Investment Counsel LLC now owns 60,229 shares of the technology infrastructure company’s stock worth $5,425,000 after acquiring an additional 2,798 shares during the period. Prudential PLC raised its stake in Akamai Technologies by 19.4% during the second quarter. Prudential PLC now owns 50,288 shares of the technology infrastructure company’s stock worth $4,530,000 after acquiring an additional 8,182 shares during the period. Finally, X Square Capital LLC lifted its holdings in Akamai Technologies by 4.9% in the second quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock worth $237,000 after acquiring an additional 122 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 2.0 %

Akamai Technologies stock opened at $96.66 on Thursday. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $14.72 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 3.10 and a beta of 0.68. The firm has a 50 day simple moving average of $97.30 and a 200-day simple moving average of $98.90.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating 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 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies 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 completion of the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $617,475 over the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, July 29th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

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.