EverSource Wealth Advisors LLC Has $36,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

EverSource Wealth Advisors LLC lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 96.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379 shares of the technology infrastructure company's stock after selling 11,914 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Akamai Technologies were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the 4th quarter worth approximately $49,000. Charles Schwab Investment Management Inc. lifted its position in shares of Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 49.6% during the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after purchasing an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock valued at $19,018,000 after purchasing an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new stake in Akamai Technologies during the 4th quarter valued at $827,000. Institutional investors and hedge funds own 94.28% of the company's stock.

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Insider Buying and Selling at Akamai Technologies

In related news, COO Adam Karon sold 5,628 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the completion of the sale, the chief operating officer now directly owns 24,597 shares in the company, valued at approximately $2,120,261.40. This trade represents a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AKAM shares. Raymond James cut their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Susquehanna lowered their price objective on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Citigroup cut their target price on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and an average price target of $106.55.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $1.73 during midday trading on Monday, reaching $82.77. 1,800,548 shares of the company traded hands, compared to its average volume of 1,830,244. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.74 and a beta of 0.68. The stock has a 50-day moving average price of $90.58 and a 200 day moving average price of $95.21. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.14. 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 issued its quarterly earnings results 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). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.