IFM Investors Pty Ltd Sells 711 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

IFM Investors Pty Ltd trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,391 shares of the technology infrastructure company’s stock after selling 711 shares during the period. IFM Investors Pty Ltd’s holdings in Akamai Technologies were worth $3,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in Akamai Technologies in the fourth quarter worth $37,000. Headinvest LLC bought a new position in Akamai Technologies in the 3rd quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies during the 4th quarter valued at about $43,000. Bruce G. Allen Investments LLC bought a new stake in Akamai Technologies during the 4th quarter valued at about $44,000. Finally, Lindbrook Capital LLC raised its holdings in Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of 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 is available at this hyperlink. 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 transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 in the last 90 days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 0.1 %

Akamai Technologies stock traded down $0.11 during mid-day trading on Friday, reaching $101.68. 820,088 shares of the company were exchanged, compared to its average volume of 1,107,475. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17. The business has a fifty day moving average of $106.97 and a 200 day moving average of $112.27. The firm has a market cap of $15.41 billion, a P/E ratio of 28.80, a PEG 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.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AKAM shares. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. KeyCorp upped their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and an average target price of $121.60.

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.