Corient Private Wealth LLC Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Corient Private Wealth LLC lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 36,931 shares of the technology infrastructure company’s stock after selling 820 shares during the period. Corient Private Wealth LLC’s holdings in Akamai Technologies were worth $3,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after purchasing an additional 115 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares in the last quarter. Delta Capital Management LLC lifted its holdings in Akamai Technologies by 4.5% in the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock valued at $267,000 after purchasing an additional 120 shares in the last quarter. Tandem Investment Advisors Inc. lifted its holdings in Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock valued at $2,879,000 after purchasing an additional 140 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Akamai Technologies by 1.2% in the 4th quarter. M&T Bank Corp now owns 12,143 shares of the technology infrastructure company’s stock valued at $1,161,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, CEO F Thomson Leighton acquired 37,670 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the transaction, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AKAM shares. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Royal Bank of Canada reduced their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Oppenheimer assumed coverage on Akamai Technologies in a report on Thursday. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Citigroup reduced their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, ten have issued 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $81.04 on Friday. The company has a market cap of $12.18 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a 50-day moving average of $90.58 and a two-hundred day moving average of $95.24. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.14.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results 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). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS 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.