Intech Investment Management LLC Lowers Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Intech Investment Management LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 56.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,794 shares of the technology infrastructure company's stock after selling 58,212 shares during the period. Intech Investment Management LLC's holdings in Akamai Technologies were worth $4,285,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC lifted its position in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. D.A. Davidson & CO. boosted its position in Akamai Technologies by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company's stock valued at $894,000 after buying an additional 115 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in Akamai Technologies by 1.5% in the fourth 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 during the last quarter. Delta Capital Management LLC boosted its holdings in Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock worth $267,000 after buying an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its position in Akamai Technologies by 0.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock worth $2,879,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, CEO F Thomson Leighton purchased 37,670 shares of Akamai Technologies stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the 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 directly owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last three months. Insiders own 1.80% of the company's stock.

Akamai Technologies Price Performance

Shares of AKAM traded down $0.51 during midday trading on Friday, hitting $81.04. 3,874,791 shares of the company traded hands, compared to its average volume of 1,830,363. The stock has a 50-day moving average of $90.58 and a 200-day moving average of $95.24. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $110.14. The firm has a market cap of $12.18 billion, a P/E ratio of 24.86, a PEG 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.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AKAM shares. Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Craig Hallum cut Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research note on Friday, February 21st. Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the company from $125.00 to $98.00 in a research note on Friday, February 21st. Finally, Evercore ISI restated an "outperform" rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of "Moderate Buy" and an average target price of $106.55.

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.