Pitcairn Co. Has $243,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pitcairn Co. trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 57.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,543 shares of the technology infrastructure company's stock after selling 3,439 shares during the period. Pitcairn Co.'s holdings in Akamai Technologies were worth $243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AKAM. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the fourth quarter worth $49,000. Bruce G. Allen Investments LLC increased its position in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after buying an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies during the 4th quarter worth $57,000. TCTC Holdings LLC lifted its holdings in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after acquiring an additional 102 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake 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. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Performance

Akamai Technologies stock traded up $1.49 during mid-day trading on Friday, hitting $74.05. 2,515,351 shares of the company's stock traded hands, compared to its average volume of 1,920,105. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $84.24 and a two-hundred day simple moving average of $92.75. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.74 and a beta of 0.80.

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

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares of the company's stock, valued at approximately $2,075,441.76. The trade was a 30.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 over the last quarter. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup lowered their target price on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. TD Cowen downgraded Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $125.00 to $98.00 in a report on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research report on Friday, February 21st. Finally, Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $105.55.

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.