Tandem Investment Advisors Inc. Sells 1,885 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tandem Investment Advisors Inc. trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,701 shares of the technology infrastructure company’s stock after selling 1,885 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Akamai Technologies were worth $3,278,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AKAM. Fairfield Bush & CO. bought a new stake in Akamai Technologies in the first quarter worth $107,000. Private Advisor Group LLC boosted its holdings in Akamai Technologies by 16.0% in the first quarter. Private Advisor Group LLC now owns 4,491 shares of the technology infrastructure company’s stock worth $536,000 after acquiring an additional 620 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Akamai Technologies by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,740 shares of the technology infrastructure company’s stock worth $2,596,000 after purchasing an additional 1,346 shares during the last quarter. Cibc World Market Inc. raised its stake in shares of Akamai Technologies by 2.3% in the first quarter. Cibc World Market Inc. now owns 10,741 shares of the technology infrastructure company’s stock worth $1,282,000 after purchasing an additional 237 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Akamai Technologies by 48.7% in the first quarter. Cetera Investment Advisers now owns 2,789 shares of the technology infrastructure company’s stock worth $333,000 after purchasing an additional 914 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AKAM shares. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, KeyCorp upped their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Trading Down 1.0 %

Shares of NASDAQ:AKAM traded down $0.99 during trading on Wednesday, hitting $100.34. The company had a trading volume of 1,303,563 shares, compared to its average volume of 1,660,425. The stock has a market cap of $15.20 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.72. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17. The company has a fifty day simple moving average of $110.14 and a two-hundred day simple moving average of $112.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

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 business 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, equities analysts forecast that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

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.