Crestwood Advisors Group LLC Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Crestwood Advisors Group LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 76,072 shares of the technology infrastructure company’s stock after selling 1,200 shares during the period. Crestwood Advisors Group LLC’s holdings in Akamai Technologies were worth $7,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the period. Wolverine Asset Management LLC purchased a new stake in Akamai Technologies in the 4th quarter worth $57,000. Principal Securities Inc. increased its holdings in Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 21.7 %

Shares of Akamai Technologies stock opened at $76.73 on Monday. The stock has a 50 day moving average of $96.15 and a 200 day moving average of $97.94. 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 capitalization of $11.53 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65. Akamai Technologies, Inc. has a fifty-two week low of $76.50 and a fifty-two week high of $113.36.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group started coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and cut their price objective for the stock from $125.00 to $98.00 in a research note on Friday. Susquehanna decreased their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday. Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Citigroup decreased their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The stock was 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. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s 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 sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 over the last 90 days. 1.80% of the stock is owned by company insiders.

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.