First Horizon Advisors Inc. Has $14.18 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 148,214 shares of the technology infrastructure company’s stock after selling 1,039 shares during the quarter. First Horizon Advisors Inc.’s holdings in Akamai Technologies were worth $14,177,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter valued at $57,000. Eastern Bank acquired a new position in shares of Akamai Technologies during the 3rd quarter valued at $71,000. Finally, Principal Securities Inc. lifted its position in shares of Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after acquiring an additional 174 shares during the period. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research analyst reports. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.90.

Akamai Technologies Trading Down 21.7 %

NASDAQ:AKAM opened at $76.73 on Friday. Akamai Technologies, Inc. has a 52 week low of $76.50 and a 52 week high of $113.36. The firm has a 50-day moving average price of $96.15 and a two-hundred day moving average price of $97.90. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 3.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 in the last ninety days. Company 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.