Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 7,650 shares of the technology infrastructure company’s stock after selling 300 shares during the period. Marco Investment Management LLC’s holdings in Akamai Technologies were worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. lifted its position in Akamai Technologies by 41.3% during the fourth quarter. E Fund Management Co. Ltd. now owns 3,049 shares of the technology infrastructure company’s stock valued at $292,000 after purchasing an additional 891 shares during the period. Inceptionr LLC acquired a new position in Akamai Technologies during the fourth quarter valued at $1,732,000. Arizona State Retirement System lifted its position in Akamai Technologies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 43,997 shares of the technology infrastructure company’s stock valued at $4,208,000 after purchasing an additional 359 shares during the period. M&T Bank Corp lifted its position in Akamai Technologies by 1.2% during the fourth 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 during the period. Finally, Atria Investments Inc lifted its position in Akamai Technologies by 5.6% during the fourth quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company’s stock valued at $526,000 after purchasing an additional 293 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $82.81 on Friday. 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 firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.74 and a beta of 0.68. The company’s 50-day moving average is $93.55 and its two-hundred day moving average is $96.87. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last posted 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%. Analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 21,213 shares of company stock worth $1,948,202 in the last ninety days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $112.00 to $100.00 in a report on Friday, February 21st. Robert W. Baird cut their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Raymond James cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and an average target price of $107.55.

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.