Profit Investment Management LLC Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Profit Investment Management LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,938 shares of the technology infrastructure company’s stock after selling 447 shares during the quarter. Profit Investment Management LLC’s holdings in Akamai Technologies were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AKAM. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the period. Eastern Bank purchased a new stake in shares of Akamai Technologies during the third quarter valued at approximately $71,000. Covestor Ltd increased its stake in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in Akamai Technologies during the 3rd quarter valued at $102,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $90.50 on Friday. The business has a 50-day simple moving average of $94.26 and a two-hundred day simple moving average of $97.31. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of analyst reports. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. UBS Group started coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.85.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,282 shares of company stock worth $2,099,996 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.