Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 91.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 553 shares of the technology infrastructure company’s stock after selling 5,659 shares during the period. Brown Brothers Harriman & Co.’s holdings in Akamai Technologies were worth $53,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after buying an additional 102 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares during the last quarter. Delta Capital Management LLC increased its stake in shares of Akamai Technologies by 4.5% during the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after purchasing an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in shares of Akamai Technologies by 0.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock worth $2,879,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $81.63 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $108.18. The firm has a market capitalization of $12.27 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.74 and a beta of 0.68. The business’s 50-day simple moving average is $88.93 and its 200-day simple moving average is $94.35.

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

Insider Activity at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO F Thomson Leighton purchased 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AKAM. Royal Bank of Canada dropped their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, UBS Group started coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.55.

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.