IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,457 shares of the technology infrastructure company’s stock after selling 1,891 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Akamai Technologies were worth $2,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares in the last quarter. Champlain Investment Partners LLC lifted its position in 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 acquiring an additional 222,290 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Akamai Technologies by 409.2% in the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock worth $26,977,000 after acquiring an additional 199,334 shares during the period. Empyrean Capital Partners LP acquired a new stake in Akamai Technologies in the second quarter valued at approximately $15,314,000. Finally, Renaissance Technologies LLC raised its stake in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AKAM shares. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, July 29th. HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research report on Wednesday, July 24th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $103.58 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $100.28 and its two-hundred day moving average price is $97.42. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The stock has a market capitalization of $15.78 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

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.