Akamai Technologies, Inc. (NASDAQ:AKAM) Position Cut by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,521 shares of the technology infrastructure company’s stock after selling 417 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Akamai Technologies were worth $1,964,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. bought a new position in Akamai Technologies in the 1st quarter worth approximately $107,000. Private Advisor Group LLC boosted its position in Akamai Technologies by 16.0% during the 1st quarter. Private Advisor Group LLC now owns 4,491 shares of the technology infrastructure company’s stock worth $536,000 after acquiring an additional 620 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Akamai Technologies by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,740 shares of the technology infrastructure company’s stock worth $2,596,000 after purchasing an additional 1,346 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Akamai Technologies by 2.3% during the first quarter. Cibc World Market Inc. now owns 10,741 shares of the technology infrastructure company’s stock valued at $1,282,000 after purchasing an additional 237 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Akamai Technologies by 48.7% during the first quarter. Cetera Investment Advisers now owns 2,789 shares of the technology infrastructure company’s stock valued at $333,000 after purchasing an additional 914 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,353 shares of company stock worth $3,688,883. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Stock Down 1.0 %

AKAM opened at $100.34 on Thursday. The company has a market capitalization of $15.20 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The business has a 50-day moving average of $109.64 and a 200-day moving average of $112.53.

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 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AKAM. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. KeyCorp raised their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Piper Sandler upped their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

About Akamai Technologies

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.