Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,800 shares of the technology infrastructure company’s stock after selling 300 shares during the period. Intact Investment Management Inc.’s holdings in Akamai Technologies were worth $568,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Planned Solutions Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $37,000. Headinvest LLC acquired a new position in shares of Akamai Technologies in the third quarter worth about $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $44,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.1 %

Shares of AKAM stock opened at $101.68 on Monday. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a fifty day moving average of $106.97 and a 200-day moving average of $112.32.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated 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 directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on AKAM shares. Citigroup decreased their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Finally, KeyCorp lifted their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.60.

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.