Brown Brothers Harriman & Co. Trims Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Brown Brothers Harriman & Co. cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 91.1% during the 4th quarter, HoldingsChannel reports. The fund owned 553 shares of the technology infrastructure company’s stock after selling 5,659 shares during the period. Brown Brothers Harriman & Co.’s holdings in Akamai Technologies were worth $53,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies during the fourth quarter valued at approximately $57,000. TCTC Holdings LLC lifted its holdings in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after buying an additional 102 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Akamai Technologies by 443.2% in the 4th quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock worth $77,000 after acquiring an additional 656 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 4,652 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now directly owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $81.63 on Thursday. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $108.18. The firm has a market cap of $12.27 billion, a P/E ratio of 25.04, a PEG ratio of 2.74 and a beta of 0.68. The stock has a fifty day moving average price of $88.93 and a two-hundred day moving average price of $94.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion for 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 14.35%. Research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AKAM. JPMorgan Chase & Co. reduced their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $112.00 to $100.00 in a research report on Friday, February 21st. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.55.

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.