Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,126,431 shares of the technology infrastructure company's stock after selling 70,578 shares during the period. Geode Capital Management LLC owned approximately 2.75% of Akamai Technologies worth $394,707,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AKAM. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies in the fourth quarter worth approximately $49,000. Bruce G. Allen Investments LLC grew its holdings in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at $57,000. TCTC Holdings LLC increased 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 acquiring an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock valued at $77,000 after acquiring an additional 656 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

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Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 37,670 shares of the company's stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the firm'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 completion of the transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company's stock.

Akamai Technologies Stock Down 6.2 %

Shares of AKAM stock traded down $4.70 during mid-day trading on Thursday, hitting $71.65. 624,674 shares of the stock traded hands, compared to its average volume of 1,907,271. The stock's fifty day moving average is $85.27 and its two-hundred day moving average is $93.13. 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, Inc. has a 52-week low of $67.51 and a 52-week high of $107.12. The stock has a market cap of $10.47 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.74 and a beta of 0.80.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James reduced their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Citigroup dropped their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Oppenheimer initiated coverage on Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Finally, Craig Hallum cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.55.

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.