King Luther Capital Management Corp Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

King Luther Capital Management Corp trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 27.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the fourth quarter worth about $49,000. Bruce G. Allen Investments LLC boosted its holdings in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Akamai Technologies in the fourth quarter valued at about $57,000. Finally, Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 656 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AKAM shares. UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. TD Cowen cut 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 report on Friday, February 21st. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $84.15 on Tuesday. The company has a fifty day simple moving average of $92.83 and a 200 day simple moving average of $96.48. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $111.79. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The company has a market cap of $12.65 billion, a P/E ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results 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 business had revenue of $1.02 billion during 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%. Sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Adam Karon sold 5,628 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.20, for a total value of $485,133.60. Following the transaction, the chief operating officer now directly owns 24,597 shares of the company’s stock, valued at $2,120,261.40. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,176 shares of company stock worth $3,759,934. Company 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.