First Horizon Advisors Inc. Has $14.18 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,214 shares of the technology infrastructure company’s stock after selling 1,039 shares during the period. First Horizon Advisors Inc. owned 0.10% of Akamai Technologies worth $14,177,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AKAM. Banque Cantonale Vaudoise lifted its holdings 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 purchasing an additional 20,633 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after buying an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Akamai Technologies by 32.6% in the third 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 acquiring an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in Akamai Technologies during the fourth quarter worth about $827,000. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock worth $1,523,951 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of a number of recent research reports. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $100.00 in a report on Friday. Finally, UBS Group started coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.90.

Akamai Technologies Stock Down 21.7 %

Shares of AKAM opened at $76.73 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a 52 week low of $76.50 and a 52 week high of $113.36. The stock 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. The stock has a fifty day moving average of $96.15 and a 200-day moving average of $97.90.

Akamai Technologies (NASDAQ:AKAM) last posted its 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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.