Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Pacer Advisors Inc. – Defense World
Posted by admin on Jun 26th, 2022 
Pacer Advisors Inc. lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 9.8% in the first quarter, Holdings Channel reports. The institutional investor owned 11,080 shares of the technology infrastructure company’s stock after selling 1,198 shares during the quarter. Pacer Advisors Inc.’s holdings in Akamai Technologies were worth $1,323,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $25,000. Newbridge Financial Services Group Inc. grew its position in shares of Akamai Technologies by 866.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 232 shares of the technology infrastructure company’s stock worth $27,000 after buying an additional 208 shares in the last quarter. UMB Bank N A MO acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $47,000. Covestor Ltd acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $50,000. Finally, Quent Capital LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $58,000. 91.05% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Raymond James decreased their price target on shares of Akamai Technologies from $118.00 to $115.00 in a research report on Wednesday, May 4th. Cowen reduced their price objective on Akamai Technologies from $186.00 to $164.00 in a research note on Wednesday, May 4th. Craig Hallum reduced their price objective on Akamai Technologies from $120.00 to $90.00 in a research note on Wednesday, May 4th. StockNews.com initiated coverage on Akamai Technologies in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, DA Davidson reduced their price objective on Akamai Technologies from $143.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, March 23rd. One 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $127.50.
Shares of NASDAQ AKAM opened at $94.46 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $123.25. The firm’s 50-day simple moving average is $101.80 and its 200 day simple moving average is $109.48. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.53. The stock has a market cap of $15.14 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.79 and a beta of 0.61.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology infrastructure company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Akamai Technologies had a net margin of 17.46% and a return on equity of 17.42%. The company had revenue of $903.65 million for the quarter, compared to the consensus estimate of $904.89 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.27 earnings per share for the current fiscal year.
In related news, CFO Edward J. Mcgowan sold 3,805 shares of Akamai Technologies stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $120.00, for a total value of $456,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.68, for a total value of $488,400.00. Following the completion of the transaction, the chief technology officer now directly owns 19,725 shares in the company, valued at approximately $1,926,738. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,672 shares of company stock worth $4,423,208. 1.70% of the stock is owned by corporate insiders.
About Akamai Technologies (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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