Intech Investment Management LLC Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Intech Investment Management LLC decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 56.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 44,794 shares of the technology infrastructure company’s stock after selling 58,212 shares during the period. Intech Investment Management LLC’s holdings in Akamai Technologies were worth $4,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Generali Asset Management SPA SGR purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $841,000. TCTC Holdings LLC lifted its stake 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 valued at $67,000 after buying an additional 102 shares during the period. Cibc World Markets Corp lifted its stake in shares of Akamai Technologies by 15.3% during the fourth quarter. Cibc World Markets Corp now owns 23,741 shares of the technology infrastructure company’s stock valued at $2,271,000 after buying an additional 3,155 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Akamai Technologies by 41.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,621 shares of the technology infrastructure company’s stock valued at $920,000 after buying an additional 2,798 shares during the period. Finally, Natixis Advisors LLC raised its stake in Akamai Technologies by 4.0% during the fourth quarter. Natixis Advisors LLC now owns 263,433 shares of the technology infrastructure company’s stock worth $25,197,000 after purchasing an additional 10,099 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AKAM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research note on Friday, February 21st. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Price Performance

AKAM opened at $82.06 on Wednesday. The company has a fifty day simple moving average of $91.20 and a 200 day simple moving average of $95.61. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month 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.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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 of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,394 shares of company stock valued at $3,019,323. Corporate insiders own 1.80% of the company’s stock.

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.