Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 764 shares of the technology infrastructure company’s stock after selling 240 shares during the period. Whittier Trust Co.’s holdings in Akamai Technologies were worth $73,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC grew its position in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies in the 4th quarter valued at $57,000. TCTC Holdings LLC raised its position in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after buying an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after acquiring an additional 656 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO F Thomson Leighton acquired 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AKAM shares. JPMorgan Chase & Co. dropped their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup reduced their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $100.00 in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $82.77 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The firm has a market cap of $12.44 billion, a PE ratio of 25.39, a P/E/G ratio of 2.74 and a beta of 0.68. The firm has a 50 day simple moving average of $90.45 and a 200-day simple moving average of $95.09. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.14.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.