King Luther Capital Management Corp Reduces Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

King Luther Capital Management Corp lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 27.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 853,057 shares of the technology infrastructure company’s stock after selling 322,624 shares during the period. King Luther Capital Management Corp’s holdings in Akamai Technologies were worth $81,595,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. National Pension Service boosted its position in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after buying an additional 273,043 shares during the last quarter. Geode Capital Management LLC raised its position in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the period. Retirement Systems of Alabama raised its holdings in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after purchasing an additional 139,760 shares during the period. Nordea Investment Management AB lifted its position in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Akamai Technologies in the third quarter worth approximately $13,313,000. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AKAM. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Raymond James lowered their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. UBS Group started coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Finally, Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have 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 $107.55.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,176 shares of company stock valued at $3,759,934. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM opened at $84.15 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $111.79. The stock has a fifty day moving average price of $92.83 and a 200 day moving average price of $96.48. The company has a market cap of $12.65 billion, a P/E ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Akamai Technologies 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.