Crestwood Advisors Group LLC Reduces Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Crestwood Advisors Group LLC reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,072 shares of the technology infrastructure company’s stock after selling 1,200 shares during the quarter. Crestwood Advisors Group LLC owned about 0.05% of Akamai Technologies worth $7,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its position in Akamai Technologies by 86.9% in the third 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 during the last quarter. Principal Financial Group Inc. raised its stake in shares of Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. lifted 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 worth $90,083,000 after acquiring an additional 11,272 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. bought a new position in Akamai Technologies during the 4th quarter valued at about $827,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Down 21.7 %

Shares of NASDAQ AKAM opened at $76.73 on Monday. Akamai Technologies, Inc. has a 1-year low of $76.50 and a 1-year high of $113.36. The business has a fifty day moving average price of $96.15 and a 200 day moving average price of $97.94. The stock has a market capitalization of $11.53 billion, a P/E 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 current ratio of 1.33 and a quick ratio of 1.33.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on AKAM shares. JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $112.00 to $100.00 in a report on Friday. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. 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 for the company in a research report on Friday. Finally, Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Insider Buying and Selling at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the 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 transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, 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 worth $1,523,951 over the last three months. Corporate insiders own 1.80% of the company’s stock.

About Akamai Technologies

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.