Invesco LLC Trims Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Invesco LLC decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,975 shares of the technology infrastructure company’s stock after selling 286 shares during the quarter. Invesco LLC’s holdings in Akamai Technologies were worth $268,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in Akamai Technologies in the first quarter worth about $31,000. Versant Capital Management Inc raised its stake in shares of Akamai Technologies by 170.8% in the second 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 during the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies during the second quarter valued at $28,000. Family Firm Inc. purchased a new stake in shares of Akamai Technologies during the second quarter valued at $35,000. Finally, Covestor Ltd increased its holdings in Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. TD Cowen lifted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Scotiabank upped their price objective on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $116.47.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $88.34, for a total value of $265,020.00. Following the sale, the chief technology officer now owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the transaction, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock valued at $617,475. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $95.07 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The stock’s 50-day simple moving average is $97.10 and its 200-day simple moving average is $99.01. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 3.10 and a beta of 0.68.

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

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.