Cognios Beta Neutral Large Cap Fund LP Sells 772 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Cognios Beta Neutral Large Cap Fund LP reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,137 shares of the technology infrastructure company’s stock after selling 772 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Akamai Technologies were worth $608,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after purchasing an additional 97 shares in the last quarter. ORG Partners LLC boosted its stake in Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after purchasing an additional 100 shares in the last quarter. Private Trust Co. NA boosted its stake in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Akamai Technologies by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after purchasing an additional 108 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Akamai Technologies by 0.5% in the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after purchasing an additional 110 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Up 0.4 %

Shares of NASDAQ AKAM traded up $0.43 during mid-day trading on Wednesday, reaching $102.19. 996,771 shares of the company’s stock were exchanged, compared to its average volume of 1,629,855. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.85 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $107.57 and a 200 day simple moving average of $112.44. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. Akamai Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AKAM shares. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Finally, KeyCorp lifted their price objective on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.27.

Insider Transactions at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 over the last 90 days. 2.00% of the stock is owned by company insiders.

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.