Ingalls & Snyder LLC Sells 1,316 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ingalls & Snyder LLC lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,099 shares of the technology infrastructure company’s stock after selling 1,316 shares during the period. Ingalls & Snyder LLC’s holdings in Akamai Technologies were worth $4,693,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AKAM. Newbridge Financial Services Group Inc. increased its holdings in Akamai Technologies by 866.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 232 shares of the technology infrastructure company’s stock worth $27,000 after purchasing an additional 208 shares in the last quarter. UMB Bank N A MO acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $47,000. Covestor Ltd acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $50,000. Sandy Cove Advisors LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $59,000. Finally, PrairieView Partners LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Several equities research analysts have issued reports on the stock. Citigroup cut their price objective on shares of Akamai Technologies from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. Raymond James lowered their target price on shares of Akamai Technologies from $118.00 to $115.00 in a report on Wednesday, May 4th. Tigress Financial lifted their price objective on shares of Akamai Technologies from $157.00 to $168.00 in a research note on Wednesday, January 26th. Robert W. Baird cut shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $102.00 in a research note on Wednesday, May 4th. Finally, Morgan Stanley cut their price target on shares of Akamai Technologies from $130.00 to $118.00 in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.50.

In other news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $97.68, for a total value of $488,400.00. Following the transaction, the chief technology officer now owns 19,725 shares of the company’s stock, valued at approximately $1,926,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $105.12, for a total transaction of $210,240.00. The disclosure for this sale can be found here. Insiders sold a total of 59,825 shares of company stock worth $6,522,536 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Shares of AKAM stock traded down $0.53 during trading on Tuesday, reaching $98.39. 1,832,855 shares of the company’s stock traded hands, compared to its average volume of 1,722,608. The company has a market capitalization of $15.77 billion, a P/E ratio of 26.59, a PEG ratio of 1.90 and a beta of 0.60. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $113.39 and its 200 day moving average is $112.26. Akamai Technologies, Inc. has a 1 year low of $93.74 and a 1 year high of $123.25.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. The firm had revenue of $903.65 million during the quarter, compared to analysts’ expectations of $904.89 million. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.32 earnings per share for the current fiscal year.

Akamai Technologies Profile (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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