Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 44.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,165 shares of the technology infrastructure company’s stock after selling 4,850 shares during the quarter. Howland Capital Management LLC’s holdings in Akamai Technologies were worth $671,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AKAM. Geneos Wealth Management Inc. lifted its holdings in shares of Akamai Technologies by 17.8% in the first quarter. Geneos Wealth Management Inc. now owns 7,273 shares of the technology infrastructure company’s stock valued at $791,000 after purchasing an additional 1,099 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Akamai Technologies in the 1st quarter valued at approximately $1,928,000. RIA Advisory Group LLC acquired a new stake in Akamai Technologies during the 1st quarter valued at $275,000. FORA Capital LLC acquired a new position in shares of Akamai Technologies in the first quarter worth $1,539,000. Finally, Nordea Investment Management AB lifted its position in shares of Akamai Technologies by 1.1% in the first quarter. Nordea Investment Management AB now owns 2,935,648 shares of the technology infrastructure company’s stock valued at $319,751,000 after acquiring an additional 32,000 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the sale, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at approximately $2,184,559.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total transaction of $467,900.00. Following the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $826,460 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.32 during mid-day trading on Thursday, hitting $94.10. The company had a trading volume of 1,460,482 shares, compared to its average volume of 1,706,845. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 4.45 and a beta of 0.67. The firm’s 50 day simple moving average is $92.49 and its two-hundred day simple moving average is $105.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its board has approved a share buyback program on Thursday, May 9th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on AKAM shares. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. Susquehanna lowered their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 10th. TD Cowen reduced their price target on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Bank of America lowered their price objective on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Piper Sandler reduced their target price on Akamai Technologies from $136.00 to $114.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.76.

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.