LGT Capital Partners LTD. Sells 72,814 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Capital Partners LTD. lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,600 shares of the technology infrastructure company’s stock after selling 72,814 shares during the period. LGT Capital Partners LTD. owned about 0.17% of Akamai Technologies worth $24,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC lifted its position in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the period. Wolverine Asset Management LLC bought a new position in Akamai Technologies during the fourth quarter valued at approximately $57,000. Finally, Jones Financial Companies Lllp lifted its position in Akamai Technologies by 443.2% during the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related news, CEO F Thomson Leighton bought 37,670 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,896 shares of company stock valued at $2,872,496. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $87.52 on Friday. The firm has a fifty day moving average price of $93.06 and a 200-day moving average price of $96.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market cap of $13.16 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $113.36.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on AKAM. Royal Bank of Canada lowered 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 research report on Friday, February 21st. Raymond James lowered their price objective 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. Citigroup lowered their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Scotiabank decreased 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 report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $107.55.

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.