First Hawaiian Bank Has $963,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Hawaiian Bank lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,696 shares of the technology infrastructure company’s stock after selling 1,434 shares during the period. First Hawaiian Bank’s holdings in Akamai Technologies were worth $963,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its position in Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after buying an additional 97 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Akamai Technologies by 6.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after purchasing an additional 97 shares in the last quarter. ORG Partners LLC boosted its stake in Akamai Technologies by 16.7% during the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA grew its position in Akamai Technologies by 17.9% during the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after buying an additional 108 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Akamai Technologies by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after acquiring an additional 108 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Price Performance

AKAM stock traded up $2.38 during trading on Tuesday, reaching $93.70. The company’s stock had a trading volume of 894,995 shares, compared to its average volume of 1,649,953. 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 company’s fifty day moving average is $92.22 and its 200-day moving average is $102.67. The company has a market capitalization of $14.27 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 4.57 and a beta of 0.67. Akamai Technologies, Inc. has a 1 year low of $87.59 and a 1 year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company had revenue of $986.97 million for 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 firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts expect that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In related news, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares of the company’s stock, valued at $929,998.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO F Thomson Leighton acquired 22,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the transaction, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares of the company’s stock, valued at $929,998.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,000 shares of company stock worth $826,460. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AKAM. Craig Hallum dropped their price objective on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Wednesday, July 24th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Robert W. Baird cut their target price 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. Finally, Citigroup lowered their price objective on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $114.44.

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.