Knowledge Leaders Capital LLC Sells 248 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Knowledge Leaders Capital LLC lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 7,750 shares of the technology infrastructure company’s stock after selling 248 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Akamai Technologies were worth $917,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Duality Advisers LP bought a new stake in Akamai Technologies during the 4th quarter valued at $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $1,184,000. RWA Wealth Partners LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $4,441,000. Quadrature Capital Ltd acquired a new stake in shares of Akamai Technologies in the 3rd quarter worth $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $1,879,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded down $0.11 on Friday, hitting $101.68. 820,088 shares of the company were exchanged, compared to its average volume of 1,107,475. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $106.97 and a 200 day moving average price of $112.27. Akamai Technologies, Inc. has a 1-year low of $76.85 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.59 by $0.10. The firm had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Piper Sandler raised their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp raised their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Citigroup reduced 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Insider Activity

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is currently owned by company insiders.

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.