Palouse Capital Management Inc. Sells 310 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Palouse Capital Management Inc. reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,419 shares of the technology infrastructure company’s stock after selling 310 shares during the period. Palouse Capital Management Inc.’s holdings in Akamai Technologies were worth $1,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AKAM. Ballentine Partners LLC raised its holdings in shares of Akamai Technologies by 17.0% in the first quarter. Ballentine Partners LLC now owns 2,509 shares of the technology infrastructure company’s stock worth $273,000 after buying an additional 365 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Akamai Technologies by 28.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,333 shares of the technology infrastructure company’s stock worth $580,000 after purchasing an additional 1,176 shares during the period. New England Research & Management Inc. acquired a new position in Akamai Technologies in the 1st quarter worth approximately $769,000. Roberts Wealth Advisors LLC lifted its stake in Akamai Technologies by 2.1% during the 1st quarter. Roberts Wealth Advisors LLC now owns 15,595 shares of the technology infrastructure company’s stock valued at $1,594,000 after acquiring an additional 325 shares during the period. Finally, Oak Thistle LLC boosted its holdings in shares of Akamai Technologies by 7.7% in the 1st quarter. Oak Thistle LLC now owns 1,876 shares of the technology infrastructure company’s stock valued at $204,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.6 %

Shares of Akamai Technologies stock traded down $0.69 during trading hours on Monday, reaching $105.98. 851,470 shares of the company were exchanged, compared to its average volume of 1,601,464. The stock’s fifty day moving average is $100.64 and its 200 day moving average is $97.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17. The firm has a market cap of $16.14 billion, a PE ratio of 26.25, a PEG ratio of 3.31 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. Akamai Technologies’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now owns 22,010 shares in the company, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $741,655 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a report on Monday, July 29th. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Scotiabank increased their target price on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.47.

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.