First Horizon Advisors Inc. Reduces Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 127,384 shares of the technology infrastructure company’s stock after selling 4,059 shares during the quarter. First Horizon Advisors Inc.’s holdings in Akamai Technologies were worth $15,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Financial LLC purchased a new stake in Akamai Technologies during the fourth quarter worth $893,000. Mach 1 Financial Group LLC purchased a new position in Akamai Technologies during the fourth quarter worth approximately $903,000. Mission Wealth Management LP acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $5,545,000. EWA LLC grew its holdings in Akamai Technologies by 7.5% in the fourth quarter. EWA LLC now owns 2,556 shares of the technology infrastructure company’s stock valued at $318,000 after purchasing an additional 179 shares during the period. Finally, Mather Group LLC. increased its position in shares of Akamai Technologies by 6.3% in the fourth quarter. Mather Group LLC. now owns 6,896 shares of the technology infrastructure company’s stock valued at $816,000 after buying an additional 410 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 2.5 %

Akamai Technologies stock traded down $2.49 during trading on Thursday, hitting $98.40. The company had a trading volume of 865,613 shares, compared to its average volume of 1,584,998. The company’s 50 day simple moving average is $106.55 and its 200-day simple moving average is $112.16. Akamai Technologies, Inc. has a 1-year low of $76.85 and a 1-year high of $129.17. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AKAM shares. JPMorgan Chase & Co. increased their target price on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Citigroup reduced their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. KeyCorp increased their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.60.

Insider Activity

In other news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,753 shares of company stock worth $3,368,303. Corporate insiders own 1.80% of the company’s stock.

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.