Burney Co. Decreases Stock Holdings in Akamai Technologies, Inc. $AKAM

Burney Co. trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,480 shares of the technology infrastructure company’s stock after selling 709 shares during the quarter. Burney Co.’s holdings in Akamai Technologies were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. WPG Advisers LLC purchased a new stake in Akamai Technologies in the first quarter worth $27,000. UMB Bank n.a. increased its position in Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock worth $32,000 after buying an additional 133 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Akamai Technologies by 198.1% in the second quarter. Assetmark Inc. now owns 474 shares of the technology infrastructure company’s stock worth $38,000 after acquiring an additional 315 shares during the period. LRI Investments LLC boosted its holdings in shares of Akamai Technologies by 766.1% in the second quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company’s stock worth $39,000 after acquiring an additional 429 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Akamai Technologies in the first quarter worth $42,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Akamai Technologies in a report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price target for the company. Weiss Ratings raised Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Raymond James Financial dropped their price objective on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Scotiabank dropped their price target on Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and an average target price of $92.53.

Akamai Technologies Trading Up 1.4%

Shares of AKAM stock opened at $72.98 on Thursday. The firm has a market cap of $10.46 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.49 and a beta of 0.75. The business has a 50-day moving average price of $75.94 and a two-hundred day moving average price of $77.18. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $105.26.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the transaction, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 12,000 shares of company stock worth $917,290. Company insiders own 2.00% of the company’s stock.

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.