Dearborn Partners LLC Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Dearborn Partners LLC lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,885 shares of the technology infrastructure company’s stock after selling 500 shares during the period. Dearborn Partners LLC’s holdings in Akamai Technologies were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP grew its holdings in Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after buying an additional 690,341 shares during the period. Mackenzie Financial Corp increased its position in Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company’s stock worth $199,961,000 after purchasing an additional 56,411 shares during the last quarter. Earnest Partners LLC raised its stake in Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock worth $211,935,000 after purchasing an additional 58,013 shares during the period. Northern Trust Corp raised its stake in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock worth $178,085,000 after purchasing an additional 163,472 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Akamai Technologies by 16.4% in the 1st quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company’s stock valued at $85,434,000 after purchasing an additional 149,762 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were 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 directly owned 43,575 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares in the company, valued at approximately $2,514,811.26. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,084 shares of company stock worth $1,726,847 in the last ninety days. 2.00% of the stock is owned by insiders.

Akamai Technologies Trading Down 1.8%

NASDAQ:AKAM opened at $78.06 on Thursday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18. 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 announced its 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 company 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%. Akamai Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 EPS. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AKAM has been the topic of several research reports. KeyCorp started coverage on Akamai Technologies in a research report on Friday, June 6th. They issued an “underweight” rating and a $63.00 target price on the stock. Morgan Stanley cut their price objective on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Scotiabank reduced their price target 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Hold” and an average price target of $99.84.

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.