Quantinno Capital Management LP Reduces Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Quantinno Capital Management LP trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,540 shares of the technology infrastructure company’s stock after selling 4,353 shares during the quarter. Quantinno Capital Management LP’s holdings in Akamai Technologies were worth $1,391,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. increased its position in shares of Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $49,000. Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $57,000. LRI Investments LLC increased its position in shares of Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company’s stock worth $60,000 after purchasing an additional 520 shares in the last quarter. Finally, TCTC Holdings LLC increased its position in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $77.08 on Friday. The stock has a market cap of $11.27 billion, a PE ratio of 23.64, a P/E/G ratio of 2.74 and a beta of 0.82. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The stock has a fifty day simple moving average of $78.03 and a 200-day simple moving average of $87.94.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business posted $1.64 EPS. Akamai Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada cut their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Susquehanna cut their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Finally, Raymond James cut their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.26.

Insider Activity at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the transaction, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price 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 directly owns 137,342 shares in the company, valued at $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. Insiders sold 35,321 shares of company stock worth $2,986,916 in the last three months. 2.00% of the stock is owned by company insiders.

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.