Sequoia Financial Advisors LLC Has $863,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sequoia Financial Advisors LLC lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 70.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,027 shares of the technology infrastructure company’s stock after selling 21,265 shares during the period. Sequoia Financial Advisors LLC’s holdings in Akamai Technologies were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $49,000. Bruce G. Allen Investments LLC boosted its stake in shares of 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 purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $57,000. Jones Financial Companies Lllp boosted 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 valued at $77,000 after purchasing an additional 656 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $80.73 on Monday. The stock has a market capitalization of $12.14 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $110.18. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $91.62 and a two-hundred day moving average price of $95.88.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results 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). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was 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 in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam Karon sold 6,431 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the transaction, the chief operating officer now owns 14,239 shares of the company’s stock, valued at $1,146,097.11. The trade was a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AKAM. Evercore ISI restated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $125.00 to $98.00 in a research note on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $107.55.

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.