J.P. Marvel Investment Advisors LLC Sells 295 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

J.P. Marvel Investment Advisors LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,051 shares of the technology infrastructure company’s stock after selling 295 shares during the quarter. Akamai Technologies makes up approximately 1.4% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 21st largest position. J.P. Marvel Investment Advisors LLC owned approximately 0.06% of Akamai Technologies worth $8,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. V Square Quantitative Management LLC increased its stake in shares of Akamai Technologies by 2.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after purchasing an additional 102 shares during the last quarter. Van ECK Associates Corp raised its stake in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after buying an additional 105 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Akamai Technologies by 2.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after acquiring an additional 118 shares during the last quarter. Finally, Garrison Asset Management LLC raised its stake in Akamai Technologies by 0.6% in the 2nd quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after acquiring an additional 120 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price for the company in a report on Wednesday, July 24th. Scotiabank cut their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.29.

Akamai Technologies Stock Down 0.3 %

NASDAQ AKAM opened at $104.40 on Friday. The business has a fifty day moving average price of $101.12 and a two-hundred day moving average price of $97.31. The stock has a market capitalization of $15.82 billion, a PE ratio of 25.84, a PEG ratio of 3.21 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. Akamai Technologies’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,500 shares of company stock worth $741,655. Corporate insiders own 2.00% of the company’s stock.

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.