Cornercap Investment Counsel Inc. Sells 325 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Cornercap Investment Counsel Inc. lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,045 shares of the technology infrastructure company’s stock after selling 325 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Akamai Technologies were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. increased its stake in Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after buying an additional 115 shares during the period. Public Sector Pension Investment Board increased its position in shares of Akamai Technologies by 8.4% during the third quarter. Public Sector Pension Investment Board now owns 6,475 shares of the technology infrastructure company’s stock worth $654,000 after acquiring an additional 500 shares during the period. Vinva Investment Management Ltd bought a new stake in shares of Akamai Technologies during the third quarter valued at approximately $327,000. Benjamin Edwards Inc. purchased a new stake in shares of Akamai Technologies in the third quarter valued at approximately $579,000. Finally, Centiva Capital LP bought a new position in Akamai Technologies in the third quarter worth approximately $325,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 1.9 %

NASDAQ AKAM opened at $80.05 on Friday. The stock has a market cap of $12.03 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.74 and a beta of 0.68. 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, Inc. has a 12-month low of $75.50 and a 12-month high of $109.98. The company has a fifty day simple moving average of $89.69 and a two-hundred day simple moving average of $94.70.

Akamai Technologies (NASDAQ:AKAM) last issued its 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%. On average, analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of research analyst reports. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Susquehanna lowered their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Raymond James cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Insider Activity at Akamai Technologies

In related 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 owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,394 shares of company stock worth $3,019,323 over the last quarter. Insiders own 2.00% of the company’s stock.

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.