Leeward Investments LLC MA Reduces Stake in Akamai Technologies, Inc.

Leeward Investments LLC MA has made changes to its investment in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 4th quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). The firm reduced its holdings by 3.0%, selling 3,800 shares and leaving it with a total of 122,707 shares in Akamai. Based on its recent disclosures, Leeward Investments LLC MA holds approximately 0.08% of Akamai Technologies, which is valued at around $11,737,000.

In addition to Leeward, several other institutional investors have also modified their positions in Akamai. Notably, Wolverine Asset Management LLC established a new position with shares worth about $57,000 in the 4th quarter. Similarly, Tandem Investment Advisors Inc. raised its stake by 0.5%, accumulating 30,096 shares, which amounts to $2,879,000 after buying an extra 140 shares during the same period. Moreover, Handelsbanken Fonder AB increased its holdings by an impressive 46.2%, now owning 38,734 shares valued at $3,705,000 after adding 12,248 shares. Bryn Mawr Capital Management LLC had the most significant increase, as it raised its stake by 395.3%, totaling 40,288 shares worth $3,854,000 after acquiring 32,154 shares last quarter. There was also a new investment from Alberta Investment Management Corp., which invested about $4,912,000 in Akamai. Overall, institutional investors collectively hold about 94.28% of the total shares of the company.

Akamai Technologies Price Performance

The stock of Akamai Technologies opened at $76.73 on the last trading day. It has a 52-week low of $76.50 and a 52-week high of $113.36. Some of the key financial metrics for the company include a quick ratio of 1.33, a current ratio of 1.33, and a debt-to-equity ratio of 0.50, indicating a sound financial structure. Currently, the market capitalization of Akamai Technologies stands at $11.53 billion, with a P/E ratio of 23.54 and a P/E/G ratio of 3.50. The stock has a beta of 0.65, suggesting lower volatility compared to the market. Moreover, its fifty-day moving average is $96.15, while the two-hundred day moving average is $97.90.

Recent Earnings Performance

Akamai Technologies last reported its earnings results on February 20th. The company posted an earnings per share (EPS) of $1.19 for the quarter, falling short of analysts' predictions, which had estimated an EPS of $1.52, representing a miss of $0.33. The company's net margin was calculated at 12.65%, alongside a return on equity of 14.47%. For the quarter, Akamai generated revenue of $1.02 billion, aligning closely with analysts' expectations. Moving forward, analysts anticipate that Akamai Technologies, Inc. will achieve an EPS of 4.6 for the current year.

Analyst Ratings and Recommendations

Akamai Technologies has recently attracted attention from various analysts, resulting in different ratings and price targets. UBS Group was among the first to initiate coverage on Akamai Technologies, assigning it a "neutral" rating with a price target of $110. Citigroup subsequently lowered its price target from $104.00 to $102.00, maintaining a "neutral" rating. In contrast, HSBC upgraded its position on Akamai from a "hold" to a "buy" rating and set a target price of $121. TD Cowen, however, downgraded the stock from a "buy" to a "hold" and reduced its price target from $125 to $98. Notably, Bank of America also changed its stance from a "buy" rating to a "neutral" rating while adjusting the target price from $125.00 to $100. In total, there are varied ratings on Akamai Technologies, with one analyst issuing a sell rating, ten issuing holds, ten issuing buy ratings, and two issuing strong buy ratings. Consequently, the average consensus rating for the stock sits at "Moderate Buy" with a target price of $107.90.

Insider Trading Activities

Recent insider trading at Akamai Technologies includes transactions made by key executives. For instance, CFO Edward J. Mcgowan sold 10,782 shares on December 16th at an average price of $98.71, netting a total of $1,064,291.22. After this transaction, Mcgowan’s remaining shares total 12,716, valued at approximately $1,255,196.36, reflecting a decrease of 45.88% in his holdings. Additionally, EVP Paul C. Joseph sold 4,000 shares on January 15th at an average price of $91.57, totaling $366,280. After this sale, he retains 23,104 shares valued at $2,115,633. Insiders have collectively sold 15,782 shares totaling $1,523,951 over the past quarter, which is about 1.80% of the total share ownership attributable to company insiders.

Company Overview

Akamai Technologies, Inc. specializes in providing cloud computing, security, and content delivery services on a global scale. Its services are designed to protect infrastructure, websites, applications, and users against cyber threats while improving overall performance.

Investment, Shares, SEC