Tobam Has $3.47 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Tobam cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,252 shares of the technology infrastructure company’s stock after selling 15,578 shares during the quarter. Tobam’s holdings in Akamai Technologies were worth $3,468,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Retirement Systems of Alabama lifted its position in Akamai Technologies by 20.0% during the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $13,313,000. Finally, Invenomic Capital Management LP increased its stake in shares of Akamai Technologies by 252.2% during the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock worth $17,766,000 after purchasing an additional 126,021 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the company’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 transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 22,282 shares of company stock worth $2,099,996. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AKAM shares. UBS Group began coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Scotiabank dropped 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 note on Friday, November 8th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Monday, December 2nd. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Down 1.3 %

Shares of NASDAQ AKAM opened at $99.61 on Friday. The firm has a market cap of $14.96 billion, a PE ratio of 29.47, a P/E/G ratio of 3.57 and a beta of 0.65. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. The company’s fifty day simple moving average is $96.19 and its 200 day simple moving average is $97.71. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

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.