Sequoia Financial Advisors LLC Has $863,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sequoia Financial Advisors LLC reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 70.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,027 shares of the technology infrastructure company's stock after selling 21,265 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Akamai Technologies were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the fourth quarter valued at about $49,000. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% during the fourth 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 during the period. Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $57,000. Jones Financial Companies Lllp lifted its stake in shares of Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock valued at $77,000 after buying an additional 656 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company's stock valued at $86,000 after buying an additional 174 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $0.86 during mid-day trading on Thursday, hitting $81.55. The stock had a trading volume of 1,862,463 shares, compared to its average volume of 2,737,548. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a 50 day simple moving average of $90.98 and a 200-day simple moving average of $95.52. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.18. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on AKAM. Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a research note on Friday, February 21st. Raymond James dropped their price objective 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. Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective for the company. Finally, Piper Sandler lowered shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $106.55.

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 37,670 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at $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. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last quarter. Insiders own 1.80% of the company's stock.

Akamai Technologies 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.