Appleton Partners Inc. MA Sells 119 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Appleton Partners Inc. MA reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,117 shares of the technology infrastructure company’s stock after selling 119 shares during the quarter. Appleton Partners Inc. MA’s holdings in Akamai Technologies were worth $230,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Planned Solutions Inc. acquired a new position in Akamai Technologies in the 4th quarter worth $37,000. Headinvest LLC bought a new position in shares of Akamai Technologies during the third quarter worth about $40,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies in the 4th quarter valued at approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC lifted its position in shares of Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the transaction, the chief technology officer now owns 24,729 shares in the company, valued at $2,184,559.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 23,349 shares of company stock worth $2,401,693 over the last 90 days. Insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM traded up $0.04 during mid-day trading on Tuesday, hitting $89.15. 418,232 shares of the company’s stock were exchanged, compared to its average volume of 1,715,563. The stock’s 50-day simple moving average is $96.63 and its 200-day simple moving average is $108.65. Akamai Technologies, Inc. has a 52 week low of $86.94 and a 52 week high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 4.18 and a beta of 0.69.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The business had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.47 EPS for the current year.

Akamai Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, May 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology infrastructure company to buy up to 13.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Craig Hallum lowered their price target on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Robert W. Baird decreased their price target on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Citigroup dropped their price objective on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Morgan Stanley dropped their price target on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Finally, StockNews.com downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has a consensus rating of “Hold” and an average price target of $114.00.

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.