Lmcg Investments LLC Has $9.12 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Lmcg Investments LLC lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,321 shares of the technology infrastructure company’s stock after selling 10,197 shares during the period. Lmcg Investments LLC owned about 0.06% of Akamai Technologies worth $9,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AKAM. Dimensional Fund Advisors LP grew its position in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after purchasing an additional 222,290 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Akamai Technologies by 409.2% during the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after purchasing an additional 199,334 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $15,314,000. Finally, Renaissance Technologies LLC grew its position in shares of Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after purchasing an additional 162,700 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.5 %

NASDAQ AKAM traded down $0.51 during mid-day trading on Friday, reaching $100.57. 1,373,284 shares of the stock were exchanged, compared to its average volume of 1,593,862. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The stock has a 50 day simple moving average of $101.00 and a 200-day simple moving average of $97.26. The stock has a market cap of $15.24 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results 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. The business had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, August 16th. The shares were 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 $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on AKAM shares. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Monday, July 29th. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Piper Sandler reduced their price target 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. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Scotiabank increased their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Company Profile

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.