Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Decreased by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,811 shares of the technology infrastructure company’s stock after selling 620 shares during the quarter. Ingalls & Snyder LLC’s holdings in Akamai Technologies were worth $843,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake 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 in the last quarter. Bruce G. Allen Investments LLC grew its position in 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 in the last quarter. Eastern Bank acquired a new position in Akamai Technologies in the 3rd quarter valued at approximately $71,000. Covestor Ltd increased its stake in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter valued at $102,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Down 1.4 %

Shares of AKAM stock opened at $99.66 on Friday. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $122.00. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $14.97 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The stock has a 50 day moving average of $96.56 and a 200-day moving average of $97.86.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Robert W. Baird cut their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Insider Activity at Akamai Technologies

In related 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 transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock worth $1,523,951 in the last ninety days. 1.80% of the stock is currently owned by insiders.

About Akamai Technologies

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.