Vontobel Holding Ltd. Sells 27,234 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Vontobel Holding Ltd. lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 11.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 206,160 shares of the technology infrastructure company's stock after selling 27,234 shares during the quarter. Vontobel Holding Ltd. owned 0.14% of Akamai Technologies worth $20,812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company's stock worth $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. Finally, Covestor Ltd grew its holdings in shares of Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company's stock worth $48,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company's stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock worth $741,655. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AKAM. Guggenheim upgraded Akamai Technologies from a "neutral" rating to a "buy" rating and set a $128.00 target price for the company in a research report on Monday, July 29th. HSBC upgraded Akamai Technologies from a "reduce" rating to a "hold" rating and set a $96.00 target price for the company in a research report on Wednesday, July 24th. Scotiabank raised their target price on Akamai Technologies from $110.00 to $115.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 9th. Tigress Financial restated a "strong-buy" rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Finally, Hsbc Global Res upgraded Akamai Technologies from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.47.

Akamai Technologies Trading Up 1.1 %

Shares of AKAM traded up $1.15 during trading hours on Thursday, hitting $104.73. 1,301,541 shares of the stock traded hands, compared to its average volume of 1,605,090. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The firm has a market capitalization of $15.95 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The business has a fifty day moving average of $100.54 and a 200-day moving average of $97.47.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

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.