Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,803 shares of the technology infrastructure company’s stock after selling 1,654 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Akamai Technologies were worth $2,181,000 as of its most recent SEC filing.

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

Akamai Technologies Stock Performance

Shares of AKAM opened at $81.47 on Thursday. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.14. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.74 and a beta of 0.68. The business’s 50 day moving average is $90.09 and its two-hundred day moving average is $94.90.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research reports. Citigroup lowered their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Raymond James reduced their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

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.