S&CO Inc. Sells 4,606 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

S&CO Inc. cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,412 shares of the technology infrastructure company’s stock after selling 4,606 shares during the quarter. S&CO Inc.’s holdings in Akamai Technologies were worth $5,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its position in Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after buying an additional 20,633 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares during the period. Van ECK Associates Corp raised its holdings in shares of Akamai Technologies by 49.6% in the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after purchasing an additional 910 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after purchasing an additional 46,335 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $84.15 on Tuesday. The company’s 50 day moving average price is $92.83 and its two-hundred day moving average price is $96.48. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $111.79. The firm has a market cap of $12.65 billion, a PE ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) 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 analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Finally, Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Buying and Selling

In related news, COO Adam Karon sold 6,431 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the sale, the chief operating officer now owns 14,239 shares in the company, valued at approximately $1,146,097.11. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,176 shares of company stock worth $3,759,934. Corporate insiders own 1.80% of the company’s stock.

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.