Kercheville Advisors LLC Lowers Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kercheville Advisors LLC decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,850 shares of the technology infrastructure company’s stock after selling 3,500 shares during the period. Kercheville Advisors LLC’s holdings in Akamai Technologies were worth $873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Akamai Technologies by 101.4% in the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after purchasing an additional 2,022 shares during the period. Empowered Funds LLC increased its position in shares of Akamai Technologies by 11.0% in the fourth quarter. Empowered Funds LLC now owns 4,124 shares of the technology infrastructure company’s stock valued at $394,000 after buying an additional 409 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Akamai Technologies by 67.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 170,856 shares of the technology infrastructure company’s stock worth $16,303,000 after buying an additional 68,681 shares during the period. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after buying an additional 910 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Akamai Technologies by 7.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 58,958 shares of the technology infrastructure company’s stock valued at $5,717,000 after acquiring an additional 4,331 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on AKAM shares. Scotiabank dropped their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Citigroup reduced their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Morgan Stanley lowered their price target on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have issued 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 a consensus target price of $101.25.

Akamai Technologies Stock Up 3.8%

Shares of AKAM opened at $79.99 on Tuesday. The company’s 50-day moving average price is $77.50 and its 200 day moving average price is $86.03. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. 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 firm has a market cap of $11.70 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president now directly owns 43,575 shares in the company, valued at $3,326,079.75. This trade represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares in the company, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Company 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.