Robeco Institutional Asset Management B.V. Sells 23,018 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Robeco Institutional Asset Management B.V. reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 19.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,957 shares of the technology infrastructure company's stock after selling 23,018 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.06% of Akamai Technologies worth $9,485,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AKAM. Wealth Enhancement Advisory Services LLC lifted its stake in Akamai Technologies by 28.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company's stock valued at $580,000 after purchasing an additional 1,176 shares during the last quarter. Norden Group LLC bought a new stake in Akamai Technologies in the 1st quarter valued at $362,000. Janney Montgomery Scott LLC boosted its position in Akamai Technologies by 14.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,816 shares of the technology infrastructure company's stock worth $2,046,000 after purchasing an additional 2,421 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Akamai Technologies by 17.8% in the first quarter. Geneos Wealth Management Inc. now owns 7,273 shares of the technology infrastructure company's stock valued at $791,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Akamai Technologies by 3.3% in the first quarter. Empirical Finance LLC now owns 5,681 shares of the technology infrastructure company's stock valued at $618,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Hsbc Global Res upgraded shares of Akamai Technologies from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, July 24th. Craig Hallum raised Akamai Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $110.00 to $125.00 in a report on Friday, August 9th. HSBC upgraded Akamai Technologies from a "reduce" rating to a "hold" rating and set a $96.00 price target for the company in a research note on Wednesday, July 24th. Piper Sandler lowered their price objective on Akamai Technologies from $114.00 to $112.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Finally, TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.29.

Akamai Technologies Trading Down 13.1 %

Shares of NASDAQ:AKAM traded down $13.64 during midday trading on Friday, hitting $90.76. 6,447,894 shares of the stock were exchanged, compared to its average volume of 1,627,059. The business's 50-day moving average price is $101.12 and its 200 day moving average price is $97.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 3.21 and a beta of 0.68.

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

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company's stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $741,655 in the last 90 days. Insiders own 2.00% 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.