Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,174 shares of the technology infrastructure company’s stock after selling 5,169 shares during the period. Pacer Advisors Inc.’s holdings in Akamai Technologies were worth $1,222,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AKAM. Brighton Jones LLC lifted its position in Akamai Technologies by 101.4% during the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock valued at $384,000 after buying an additional 2,022 shares in the last quarter. Korea Investment CORP raised its stake in shares of Akamai Technologies by 50.9% in the 4th quarter. Korea Investment CORP now owns 38,554 shares of the technology infrastructure company’s stock valued at $3,688,000 after acquiring an additional 13,000 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Akamai Technologies by 0.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 46,592 shares of the technology infrastructure company’s stock valued at $4,457,000 after acquiring an additional 357 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Akamai Technologies by 11.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 92,873 shares of the technology infrastructure company’s stock worth $8,883,000 after purchasing an additional 9,798 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president owned 32,349 shares of the company’s stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the transaction, the chief operating officer directly owned 10,809 shares of the company’s stock, 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. Insiders have sold a total of 22,084 shares of company stock worth $1,726,847 in the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AKAM has been the subject of several analyst reports. Wall Street Zen downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Piper Sandler reissued a “neutral” rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. KeyCorp started coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an “underweight” rating and a $63.00 price objective for the company. UBS Group lifted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Morgan Stanley decreased their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $99.84.

Akamai Technologies Stock Down 1.8%

Shares of Akamai Technologies stock opened at $78.06 on Thursday. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 2.51 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $78.42 and its 200-day simple moving average is $82.40.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.