Leuthold Group LLC Has $6.20 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Leuthold Group LLC decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,970 shares of the technology infrastructure company’s stock after selling 120 shares during the quarter. Leuthold Group LLC’s holdings in Akamai Technologies were worth $6,196,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Planned Solutions Inc. bought a new stake in Akamai Technologies during the fourth quarter valued at about $37,000. Headinvest LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies in the fourth quarter valued at $44,000. Finally, Lindbrook Capital LLC lifted its position in shares of Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $2.05 during trading hours on Friday, reaching $96.15. 575,026 shares of the company were exchanged, compared to its average volume of 1,698,052. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $14.65 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.49 and a beta of 0.67. The business has a 50 day moving average of $92.38 and a 200 day moving average of $105.41. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 9th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research analyst reports. KeyCorp cut their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Bank of America reduced their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Craig Hallum lowered their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Citigroup lowered their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $113.76.

Insider Activity

In other news, EVP Anthony P. Williams sold 5,000 shares of Akamai Technologies stock in a transaction 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 $929,998.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction 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 $2,184,559.86. The transaction was disclosed in a legal filing 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 dated Tuesday, May 14th. The shares were 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 approximately $929,998.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,000 shares of company stock valued at $826,460. 1.80% of the stock is currently owned by corporate insiders.

About Akamai Technologies

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.