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

Cognios Beta Neutral Large Cap Fund LP lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.1% during the fourth quarter, Holdings Channel reports. 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.

A number of other large investors also recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Akamai Technologies by 1.8% during the third quarter. Mackenzie Financial Corp now owns 2,116,586 shares of the technology infrastructure company’s stock valued at $223,554,000 after acquiring an additional 38,069 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Akamai Technologies during the third quarter valued at approximately $218,201,000. Northern Trust Corp increased its position in Akamai Technologies by 3.0% in the third quarter. Northern Trust Corp now owns 1,922,166 shares of the technology infrastructure company’s stock worth $204,788,000 after buying an additional 56,782 shares during the last quarter. Earnest Partners LLC increased its position in Akamai Technologies by 4.8% in the third quarter. Earnest Partners LLC now owns 1,792,571 shares of the technology infrastructure company’s stock worth $190,981,000 after buying an additional 82,364 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Akamai Technologies by 22.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after buying an additional 228,200 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AKAM. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Piper Sandler raised their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. KeyCorp raised their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $121.27.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $0.43 during trading hours on Wednesday, hitting $102.19. 996,771 shares of the company’s stock traded hands, compared to its average volume of 1,629,855. The firm has a market cap of $15.48 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.85 and a beta of 0.72. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The business’s fifty day simple moving average is $107.57 and its two-hundred day simple moving average is $112.44. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million during 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%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of Akamai Technologies 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 sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of Akamai Technologies 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 sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies 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 sale, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Profile

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.