Edmond DE Rothschild Holding S.A. Sells 804,712 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Edmond DE Rothschild Holding S.A. trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,323,996 shares of the technology infrastructure company’s stock after selling 804,712 shares during the period. Akamai Technologies makes up about 3.8% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 2nd largest position. Edmond DE Rothschild Holding S.A.’s holdings in Akamai Technologies were worth $222,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allianz SE bought a new stake in Akamai Technologies in the 4th quarter valued at about $143,000. Allstate Corp acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $423,000. DnB Asset Management AS increased its holdings in shares of Akamai Technologies by 13.0% during the fourth quarter. DnB Asset Management AS now owns 29,418 shares of the technology infrastructure company’s stock valued at $2,814,000 after acquiring an additional 3,382 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after purchasing an additional 114 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Akamai Technologies by 11.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 92,873 shares of the technology infrastructure company’s stock worth $8,883,000 after purchasing an additional 9,798 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $80.05 on Monday. The stock has a fifty day moving average of $89.69 and a 200-day moving average of $94.68. The stock has a market cap of $12.03 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $109.98.

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

Insider Activity

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.48, for a total value of $402,304.96. Following the transaction, the chief financial officer now owns 34,510 shares of the company’s stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares of the company’s stock, valued at $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. Citigroup lowered their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. Finally, Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $112.00 to $100.00 in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

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.