Capital Investment Counsel Inc Sells 425 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Capital Investment Counsel Inc cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 10,450 shares of the technology infrastructure company’s stock after selling 425 shares during the period. Capital Investment Counsel Inc’s holdings in Akamai Technologies were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AKAM. Handelsbanken Fonder AB raised its position in shares of Akamai Technologies by 46.2% during the 4th quarter. Handelsbanken Fonder AB now owns 38,734 shares of the technology infrastructure company’s stock valued at $3,705,000 after purchasing an additional 12,248 shares during the period. Bryn Mawr Capital Management LLC raised its position in shares of Akamai Technologies by 395.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 40,288 shares of the technology infrastructure company’s stock valued at $3,854,000 after purchasing an additional 32,154 shares during the period. Alberta Investment Management Corp bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $4,912,000. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Akamai Technologies by 41.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,338 shares of the technology infrastructure company’s stock valued at $606,000 after purchasing an additional 1,852 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Akamai Technologies by 423.5% during the 4th quarter. Venturi Wealth Management LLC now owns 2,691 shares of the technology infrastructure company’s stock valued at $257,000 after purchasing an additional 2,177 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Down 2.2 %

NASDAQ:AKAM opened at $98.05 on Friday. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $113.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $14.73 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.55 and a beta of 0.65. The firm has a 50-day simple moving average of $96.60 and a 200-day simple moving average of $97.96.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock valued at $1,523,951 in the last 90 days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AKAM shares. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Citigroup decreased their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Robert W. Baird cut their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and an average target price of $117.95.

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.