Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 853,057 shares of the technology infrastructure company's stock after selling 322,624 shares during the quarter. King Luther Capital Management Corp owned approximately 0.57% of Akamai Technologies worth $81,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of AKAM. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company's stock worth $189,000 after acquiring an additional 105 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock worth $20,236,000 after acquiring an additional 6,785 shares during the last quarter. Covestor Ltd boosted its stake in shares of Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Akamai Technologies by 23.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,710 shares of the technology infrastructure company's stock worth $1,182,000 after acquiring an additional 2,241 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

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Akamai Technologies Trading Up 2.6 %

Akamai Technologies stock traded up $2.07 during trading hours on Friday, hitting $80.73. The company had a trading volume of 2,371,049 shares, compared to its average volume of 2,801,385. The firm has a market cap of $12.14 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18. The company has a 50-day moving average price of $91.62 and a two-hundred day moving average price of $95.95.

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 (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during 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%. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on AKAM. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Susquehanna lowered their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a "neutral" rating and a $110.00 target price on the stock. Evercore ISI restated an "outperform" rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, TD Cowen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their target price for the company from $125.00 to $98.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of "Moderate Buy" and an average price target of $107.55.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the sale, the chief financial officer now owns 34,510 shares of the company's stock, valued at approximately $2,984,424.80. This represents a 11.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now directly owns 25,211 shares of the company's stock, valued at $2,040,074.12. The trade was a 13.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,176 shares of company stock valued at $4,083,614. Company insiders own 1.80% of the company's stock.

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.