Howland Capital Management LLC Sells 4,850 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Howland Capital Management LLC decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,165 shares of the technology infrastructure company’s stock after selling 4,850 shares during the period. Howland Capital Management LLC’s holdings in Akamai Technologies were worth $671,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $37,000. Headinvest LLC purchased a new stake in shares of Akamai Technologies during the third quarter worth $40,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth $43,000. Bruce G. Allen Investments LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth $44,000. Finally, Lindbrook Capital LLC grew 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 valued at $49,000 after purchasing an additional 125 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the transaction, the chief technology officer now directly owns 24,729 shares of the company’s stock, valued at $2,184,559.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Anthony P. Williams sold 5,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the sale, the executive vice president now directly owns 9,938 shares in the company, valued at approximately $929,998.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the sale, the chief technology officer now directly owns 24,729 shares in the company, valued at approximately $2,184,559.86. The disclosure for this sale can be found here. Insiders sold a total of 9,000 shares of company stock valued at $826,460 in the last quarter. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 0.3 %

Shares of NASDAQ AKAM traded up $0.32 during mid-day trading on Thursday, hitting $94.10. 1,460,482 shares of the stock traded hands, compared to its average volume of 1,706,845. The stock has a fifty day moving average price of $92.49 and a 200-day moving average price of $105.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The company has a market cap of $14.33 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 4.45 and a beta of 0.67. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. Akamai Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. Research analysts anticipate that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its Board of Directors has authorized a stock buyback program on Thursday, May 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on AKAM. Citigroup lowered their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. KeyCorp lowered their price objective on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Scotiabank initiated coverage on Akamai Technologies in a research report on Monday. They set a “sector outperform” rating and a $110.00 target price for the company. Royal Bank of Canada lowered their price target on Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a report on Friday, May 10th. Finally, Robert W. Baird dropped their price target on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.76.

Akamai Technologies Company 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.