Vontobel Holding Ltd. Sells 27,234 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Vontobel Holding Ltd. lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.7% in the third quarter, Holdings Channel reports. The firm owned 206,160 shares of the technology infrastructure company’s stock after selling 27,234 shares during the quarter. Vontobel Holding Ltd.’s holdings in Akamai Technologies were worth $20,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Akamai Technologies by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after buying an additional 118 shares in the last quarter. Garrison Asset Management LLC raised its stake in Akamai Technologies by 0.6% in the 2nd quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock worth $1,915,000 after purchasing an additional 120 shares in the last quarter. Czech National Bank boosted its holdings in Akamai Technologies by 0.5% in the 1st quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after purchasing an additional 121 shares during the period. X Square Capital LLC grew its position in shares of Akamai Technologies by 4.9% during the 2nd quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock worth $237,000 after purchasing an additional 122 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its holdings in shares of Akamai Technologies by 0.9% during the second quarter. Elo Mutual Pension Insurance Co now owns 13,904 shares of the technology infrastructure company’s stock worth $1,252,000 after purchasing an additional 122 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

Shares of AKAM opened at $103.58 on Thursday. The business has a 50-day simple moving average of $100.28 and a two-hundred day simple moving average of $97.42. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The stock has a market cap of $15.78 billion, a PE ratio of 25.77, a PEG ratio of 3.31 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 issued its quarterly earnings data 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 net margin of 16.01% and a return on equity of 14.78%. The business had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same quarter last year, the business earned $1.01 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AKAM. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, July 29th. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $116.47.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William Raymond Wagner sold 1,000 shares of the company’s 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 sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $741,655 over the last 90 days. 1.80% of the stock is owned by insiders.

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.