CastleKnight Management LP Has $956,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

CastleKnight Management LP cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the technology infrastructure company’s stock after selling 3,000 shares during the period. CastleKnight Management LP’s holdings in Akamai Technologies were worth $956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Akamai Technologies in the 4th quarter valued at about $477,454,000. First Trust Advisors LP increased its stake in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service raised its holdings in Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares during the period. Hsbc Holdings PLC boosted its position in shares of Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Akamai Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company’s stock valued at $178,085,000 after buying an additional 163,472 shares during the period. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.2 %

Akamai Technologies stock opened at $82.92 on Wednesday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The firm has a market capitalization of $12.12 billion, a PE ratio of 25.44, a P/E/G ratio of 2.74 and a beta of 0.82. The company’s 50-day moving average is $78.83 and its 200-day moving average is $89.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

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

Insider Buying and Selling at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. The trade was a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 31,394 shares of company stock valued at $2,653,043 in the last quarter. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on AKAM shares. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Raymond James lowered their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Susquehanna cut their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.75.

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.